# Happy Returns

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/happy-returns

- Industry: Internet
- Headquarters: Los Angeles, US
- Website: www.happyreturns.com
- Total disclosed funding: $14M
- Latest round: Series B (Dec 20, 2017)
- Investors on record: 4

## About

Happy Returns, Inc. provides innovative returns software and reverse logistics solutions for e-commerce merchants, streamlining the return process for online shopping.Founded in 2015 and headquartered in Los Angeles, US, Happy Returns specializes in simplifying the return process for e-commerce businesses through its Return Bar® network. The company was co-founded by David Sobie and Mark Geller, both of whom have experience in the tech and retail sectors. Happy Returns has raised a total of USD 11.00 mn across five funding rounds, with the most recent round occurring on May 13, 2021, led by PayPal, Inc., which also acquired the company from Lowercase Capital, Maveron Capital, and US Venture Partners.Happy Returns specializes in returns software and reverse logistics solutions tailored for e-commerce merchants. The company's core product, the Return Bar®, is a network of nearly 8,000 locations, including over 5,000 The UPS Store® sites, that facilitates hassle-free returns without the need for shipping labels or boxes. This service addresses significant pain points for online shoppers, such as the inconvenience of mail returns, by allowing customers to initiate refunds and exchanges immediately upon drop-off. Happy Returns also offers patent-pending item scanning and verification to enhance the returns process, ensuring accuracy and efficiency. The primary clients served include retail brands and e-commerce platforms in the United States, where the service has gained traction among consumers seeking streamlined and user-friendly return options.Happy Returns generates revenue through partnerships with retailers who utilize its return management solutions. The company's transaction structure is primarily B2B, wherein retailers integrate the Return Bar® service into their e-commerce platforms to provide an enhanced customer experience. This service may include a fee for each transaction processed at the Return Bar®, potentially structured around the volume of returns handled. Additionally, Happy Returns benefits from unified billing for its services, encompassing logistics provided by both UPS and its own operations. The company has demonstrated a strong value proposition, with clients reporting significant savings in customer service costs and revenue retention through exchanges facilitated by Happy Returns' offerings.Following the acquisition by PayPal, Inc. in May 2021, Happy Returns aims to leverage its new backing to enhance its product offerings and expand its market presence. Plans for future growth include the development of additional features for the Return Bar® and exploring entry into new geographic regions, although specific markets have not been disclosed. The recent funding will support these initiatives, enabling Happy Returns to further streamline the returns process and enhance customer satisfaction.

## Funding rounds

- Series B, Dec 20, 2017, $8M — US Venture Partners, Upfront
- Series A, Sep 13, 2017, $4M — Upfront, Maveron, Lowercase Capital
- Seed, Apr 5, 2016, $1.9M — Upfront, Maveron, Lowercase Capital

## Investors

- Upfront (https://capitalatlas.ai/funds/upfront) — Seed, Series A, Series B
- Maveron (https://capitalatlas.ai/funds/maveron) — Seed, Series A
- Lowercase Capital (https://capitalatlas.ai/funds/lowercase-capital) — Seed, Series A
- US Venture Partners (https://capitalatlas.ai/funds/us-venture-partners) — Series B