Ohi plans to use the funds to expand its services across 25 cities in the US by the end of 2022. Here are the top-line bullets you need to know.
Ohi, a same-day delivery and post-purchase experience tech company, has raised $19M in Series A funding. The round drew participation from Afore Capital, Edward Shenderovich, and Electric Feel Ventures, among others.
How’s the company performing?
- New York-based Ohi operates through a network of microfulfillment centers and partners with last-mile delivery brands like Postmates, Door Dash, and Uber, among others.
- Ohi claims its customers see 28% average growth in conversion rate and up to 120% repeat purchase rate growth.
- The company has over 50 customers that include Health-Ade, SolaWave, Ripple, and Untuckit, among others.
Source: Ohi
Why does the market matter?
- The e-commerce market is projected to grow at a CAGR of 22.9% to reach a value of $16.216T by 2027, according to Meticulous Market Research.
- The Covid-19 pandemic has accelerated the demand and consumer expectations of immediate deliveries, leading to the increase in the need to implement various digital technologies to improve the performance and experience of e-commerce websites.
- Given Amazon’s dominance of the online retail market, retailers are doubling down on unique strengths like instant commerce, niche assortment, and post-purchase experience.
