Returnalyze closes $6 million funding round for AI powered returns prevention platform

Returnalyze, an AI powered returns prevention platform, has closed a $6 million Series A1 round led by Fintop Capital.  Blu Ventures, Osage Venture Partners and Data Point Capital also participated in the round.

This will support hiring, including expansion of the engineering and data science teams to accelerate AI powered features and support retailers from initial purchase through to post-return customer engagement. Also, continued build out of Returnalyze's portfolio of APIs and partnerships with platforms like Shopify, Salesforce Commerce Cloud, and logistics providers

The company works with the likes of J.Crew, Abercrombie & Fitch, Wolverine, and Perry Ellis.

Rick Cramer, CEO at Returnalyze, says: “Our platform transforms returns from a cost centre into a strategic advantage by delivering root cause analysis, predictive insights, industry benchmarking and automated recommendations across product development, inventory management, e-commerce and customer experience.”

“By enabling new use cases around customer retention and operational efficiency, including predictive return scoring and automated inventory adjustments based on return patterns detected within hours, retailers can add tens and even hundreds of millions of dollars to their bottom line, while simultaneously enhancing the customer experience.”

“Returnalyze's AI insights have enabled us to prevent returns before they happen, not just manage them after the fact,” says Jay Nigrelli, President DTC & 1P E-commerce at Perry Ellis: "We've achieved return rates well below industry average and recovered substantial incremental revenue, while dramatically improving customer satisfaction. Our customers receive the right products that meet their expectations the first time - it's a win-win for profitability and customer experience.”

"We're thrilled to partner with Returnalyze as they tackle one of retail's most strategic yet underserved challenges," says John Philpott, General Partner at Fintop Capital. "The team has built something truly transformative - an AI solution that doesn't just analyse returns data, but actually prevents returns before they happen while optimising the entire customer experience.”

“This level of intelligence simply wasn't possible with traditional approaches, and we believe Returnalyze is positioned to become the essential platform for retailers to protect margins and enhance customer satisfaction."

Cramer adds: "We're not just building another analytics dashboard – we're creating an intelligent system that fundamentally changes how retailers approach one of their biggest profit leaks. The response from our customers has been incredible, and this funding allows us to accelerate our mission of helping retailers make more money while making customers happier.”  

2025 RTIH INNOVATION AWARDS

AI will be a key focus area at the 2025 RTIH Innovation Awards.

The awards. which are now closed for entries with our finalists and shortlists being announced last week, celebrate global tech innovation in a fast moving omnichannel world.

Our 2024 hall of fame entrants were revealed during an event which took place at RIBA’s 66 Portland Place HQ in Central London on 21st November, and consisted of a drinks reception, three course meal, and awards ceremony presided over by comedian Lucy Porter

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “The event is now into its sixth year and what a journey it has been. The awards started life as an online only affair during the Covid outbreak, before launching as a small scale in real life event and growing year on year to the point where we’re now selling out this fine, historic venue.”

He added: “Congratulations to all of our finalists. Many submissions did not make it through to the final stage, and getting to this point is no mean feat. Checkout-free stores, automated supply chains, immersive experiences, on-demand delivery, next generation loyalty offerings, inclusive retail, green technology. We’ve got all the cool stuff covered this evening.”

“But just importantly we’ve got lots of great examples of companies taking innovative tech and making it usable in everyday operations - resulting in more efficiency and profitability in all areas.”

Congratulations to our 2024 winners, and a big thank you to our sponsors, judging panel, the legend that is Lucy Porter, and all those who attended November's gathering. 

For further information on the 2025 RTIH Innovation Awards, please fill in the below form and we will get back to you asap.