71lbs


Initial Investment:

January 2013
Lead Partner:John Cambier
Co-Investors:New World Ventures, OCA Ventures, TechStars Chicago, Tamiami Angel Fund

71lbs is a platform that automatically audits, applies for and recovers refunds for the money-back guarantees (MBG) offered by FedEx and UPS. 71lbs allows shipping customers to recover 4-6% of their parcel spending, without the tedious process of auditing and applying for refunds directly. The Company’s “set-and-forget” system enables SMB clients to easily and effortlessly collect the $2+ billion left on the table each year in unclaimed late shipment refunds. Customers simply provide 71lbs with their shipping credentials and 71lbs does the rest – monitoring deliveries and collecting refunds for those shipments that are not delivered on-time.

71lbs in the news


71 Lbs Featured on Worldwide Business with Kathy Ireland

71 Lbs Founder & CEO, Jose Li, sits down with Kathy Ireland to discuss reclaiming shipping costs and how 71 Lbs can help easily recover late fees for its customers.

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Entitled to a Shipping Refund? Get Help Collecting It

Major carriers offer an oft unknown money-back guarantee for on-time deliveries and provide a full refund for late shipments. While eligible refunds can amount to significant sums, it is a time-consuming process to monitor each package. Entrepreneur Magazine speaks to 71lbs Founder & CEO, Jose Li, on issues to consider in evaluating third-party recovery firms. …

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Pricing Changes Will Hit Smallest E-Commerce Shippers Hardest

Earlier this year, both FedEx and UPS announced that they would begin charging by package size, in addition to weight, for ground services. While the exact impact of the new dimension-based pricing structure will ultimately depend on how prepared a company is to adapt its strategy, it is clear that small businesses will be hit …

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Hefty year for 71lbs: New funding, New Offices, Meteoric Growth

The Miami Herald’s Nancy Dahlberg follows up on her 2013 profile of 71lbs, reporting on the company’s “meteoric growth.” Jose Li, Founder and CEO, says 71lbs has grown 950% over the past 12 months, having recently announced its $2 million Series A financing and now serving more than 2,000 customers. In looking ahead, Li says …

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How Your Business Can Cash In on On-Time Delivery Guarantees

Major shippers offer money-back guarantees for late shipments that are often unknown and, more often, go uncollected.  Fort Lauderdale-based  71 lbs is making it easier for shippers to identify and collect these money-back guarantees. Led by CEO and Co-founder Jose Li, 71 lbs’ software automatically audits the delivery records of your shipping account, identifying late deliveries. …

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