Sway

About Sway

Sway, operating as shipsway.com, is a logistics and technology company that has developed a platform aimed at refining the delivery and returns experience for e-commerce brands and their customers. Initially founded in May 2020 as Returnmates, the company rebranded to Sway in early 2024 to reflect its expanded services beyond reverse logistics. The venture was started by Eric Wimer and Kristian Zak. Wimer, who serves as the CEO, was an early employee at Uber, where he was instrumental in scaling the rideshare and UberEATS products into numerous U.S. markets. This background in managing gig economy networks provided a foundation for Sway's business model, which was conceived after the founders identified an opportunity to improve the cumbersome process of online purchase returns. Sway's business model is designed to serve direct-to-consumer brands by providing a suite of logistics services that enhance customer relationships. The company offers next-day and two-day delivery, along with a flagship doorstep return and exchange service. This service simplifies the returns process for shoppers, who no longer need to handle boxes or print labels. For its brand partners, this translates into significant operational improvements, including a reported 66% reduction in lost packages, a 15% decrease in per-unit return costs, and a 20% increase in repeat purchases from customers who use the service. The company generates revenue by providing these logistics services to brands, positioning itself as a customer-centric alternative to legacy carriers. Technologically, Sway's platform facilitates a high degree of transparency and communication, featuring two-way SMS support that gives customers visibility into their delivery or return status, similar to rideshare applications. This has resulted in a customer Net Promoter Score (NPS) of 75 and an on-time performance rate exceeding 99%. The company utilizes a network of driver-partners in a gig marketplace model to perform the pick-ups and deliveries. Since its inception, Sway has demonstrated substantial growth, expanding its operations to 20 cities across states like California, New York, and Florida by early 2024. This expansion was fueled by significant funding, including a $5.98 million Seed Round in 2021 and a $19.5 million Series A round in January 2024, bringing its total funding to over $25 million. The fresh capital is earmarked for further technological development, team growth, and expansion into additional cities.