eCommerce Startup TryNow Notches $12 Million In Series A

TryNow landed $12 million in a Series A founding round from Third Kind, SciFi VC, Craft Ventures, Shine Capital and Plaid co-founders William Hockey and Zachary Perret, according to an announcement.

The company’s technology lets shoppers check out for free and test out products in their own residences. They can send back the items they don’t want and just pay for what they don’t return.

“Removing uncertainty before purchasing allows brands to unlock the power of in-store retail for consumers — all from the comfort of their own homes,” TryNow founder and CEO Benjamin Davis said in the announcement.

Shopify Plus brands such as Solid & Striped, Western Rise, Roolee and Universal Standard harness TryNow for “Try Now Buy Later” offerings. Try Now connects with Shopify in addition to different accounting software and return management technologies.

TryNow also announced that it has hired two new executives. Jonathan Kayne, who headed up product partnerships at Affirm, is TryNow’s new VP of Platform. Jessica Baier, the former Stitch Fix strategy leader, came on board to TryNow as VP of Growth Strategy.

“Benjamin and the TryNow team are taking what they’ve learned from Affirm, Stitch Fix, and operating a DTC brand and launching the ultimate checkout option: try now, buy later,” Brian Murray, managing director at Craft Ventures, said in the announcement.

In separate news, reverse logistics startup ReverseLogix recently unveiled a $20 million investment round, marking the first time it secured external funding. Investors at Cambridge Capital headed up the Series A investment. Matt Smalley and Benjamin Gordon of Cambridge Capital will become a part of the upstart’s board of directors.

ReverseLogix Founder and CEO Gaurav Saran said in a previous statement that they bootstrapped the company for the past six years, while bringing in Cambridge Capital will “allow us to continue developing our platform, expanding our leadership team and extending our high-growth trajectory into 2021 and beyond, leveraging their industry relationships with key customers and partners.”