FloorFound

About FloorFound

FloorFound is a startup that leverages artificial intelligence (AI) and local resale networks to help retailers recover revenue from oversized returns, trade-ins, and buy-backs. The company operates in the recommerce market, which focuses on reselling returned or previously owned items. This market is growing as more businesses and consumers seek sustainable and circular economy solutions.

FloorFound's primary clients are retailers and resellers who deal with large items, such as furniture, that are often costly and complicated to handle when returned. These oversized returns can be a significant financial burden for retailers, but FloorFound offers a solution to turn these liabilities into revenue.

The company's business model revolves around its proprietary platform, RecoverAI. This platform uses AI to predict the potential revenue recovery from returned items and optimizes the resale process. Here's how it works:

1. A retailer places a return request on the RecoverAI platform. 2. RecoverAI predicts the revenue that can be recovered from the returned item. 3. The platform schedules a same-day pickup for the item. 4. The item is routed to the most suitable reseller. 5. Once sold, the retailer receives a payout.

FloorFound makes money by taking a percentage of the revenue recovered from each sale. This model not only helps retailers recover up to 25% of the value of their returns but also minimizes waste by ensuring that items are resold rather than discarded.

In summary, FloorFound is a recommerce platform that uses AI to help retailers and resellers recover revenue from oversized returns, contributing to a more sustainable retail ecosystem.