Convelio

The Paris-based company developed a proprietary algorithm that provides instant shipping quotes by analyzing various parameters like fragility, dimensions, and value. This technology allows Convelio to offer prices up to 46% cheaper than industry standards and deliver quotes in seconds, a process that traditionally takes two to five days. The platform manages the entire shipping process, including pickup, bespoke packing, customs clearance, freight, real-time tracking, and insurance. Convelio offers different service tiers, including 'Convelio Essential' for cost-effective shipping and 'Convelio Fine Art' for high-value, 'white-glove' shipments requiring specialized handling.

Convelio's business model serves a diverse clientele, including auction houses, art galleries, online marketplaces, interior designers, and private collectors. Prominent clients include major auction houses like Christie's and Sotheby's. Initially, the company targeted smaller clients like antique dealers to refine its services before moving upmarket. Its revenue is generated through its shipping services, which span air, sea, and road freight to over 80 countries. The company operates from offices in Paris, London, and New York.

Since its inception, Convelio has demonstrated significant growth, raising a total of $47 million over three funding rounds. A Series A round in February 2020 brought in €9 million, followed by a substantial $35 million Series B round in March 2022, led by firms including Forestay and Mundi Ventures. This funding has been directed towards technology development, global expansion, particularly in the U.S. market, and enhancing its service offerings. In 2022, the company managed over 14,000 shipments with a cumulative value of nearly $300 million.