71lbs
Latest round
- Angel
Last raised
- Jun 2014
Total raised
- $2.1M
Investors
- 3
About 71lbs
71lbs, headquartered in Fort Lauderdale, US, specializes in shipping cost management for small and medium-sized businesses. Founded by Jose Li, the company has pivoted towards maximizing savings for its clients.71lbs specializes in providing shipping cost management services, primarily targeting small and medium-sized businesses (SMBs). Their core offerings include Late Delivery Refunds, Contract Negotiations, Shipping Insurance, Lost & Damaged Claims, and Discounted Shipping. These services help customers achieve savings of 10% to 35% on shipping costs by leveraging insights from over USD 1 billion in shipping data to negotiate better agreements with carriers such as FedEx and UPS.The revenue model for 71lbs is contingency-based, meaning they charge a percentage of the savings generated for their clients rather than upfront fees. This structure aligns the interests of the company with its clients since 71lbs earns revenue only when it successfully identifies and recovers owed refunds or negotiates cost savings.In the near term, 71lbs plans to expand its service offerings by developing new products that enhance shipping cost management capabilities for its clients.
Who invested in 71lbs
3 investors across 2 rounds
See all investors in 71lbs
Sign up free to see every VC on the cap table, the rounds they joined, and how much each round raised.
Questions about 71lbs
Who invested in 71lbs?
71lbs has 3 investors on record across 2 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has 71lbs raised?
71lbs has raised 2 venture rounds. Sign up free to see how much each round raised and the total.
When did 71lbs last raise money?
71lbs's most recent round on record is a Angel, in Jun 2014.
What does 71lbs do?
71lbs, headquartered in Fort Lauderdale, US, specializes in shipping cost management for small and medium-sized businesses.
Where is 71lbs headquartered?
71lbs is headquartered in Fort Lauderdale, US.
Which VCs invest in companies like 71lbs?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at 71lbs's stage. Their profiles are linked below.
VCs backing software startups at Angel
Raising like 71lbs? Find the right VCs.
Capital Atlas matches your startup to active investors by stage, sector and region.