CHICAGO, Jan. 22, 2019 /PRNewswire/ -- Today,
ShopRunner, the free two-day shipping and seamless checkout
e-commerce network that connects retailers with millions of the
best e-commerce shoppers, announced that it has taken investment
from UPS to close its most recent round of financing. This
partnership will allow UPS and ShopRunner to leverage their
relationship to enhance retailer demand generation programs while
adding a robust shopping platform for UPS My Choice members.
"UPS shares our commitment to meeting the growing demand of
shoppers for faster shipping and more control of their deliveries,"
said Michael Rubin, Chairman of
ShopRunner. "The addition of UPS to our roster of investors
only strengthens our collaboration around creating innovative
products and services for both our consumers and retail
partners."
In a separate transaction, ShopRunner also acquired
Precognitive, an enterprise fraud-prevention solution
that combines device intelligence, advanced behavioral
analytics, and a real-time decision engine to help
companies more accurately identify online fraud.
Following its recent acquisition of mobile app Spring,
ShopRunner's acquisition of Precognitive expands its suite of
enterprise products to include fraud prevention. Like the
rest of its solutions, ShopRunner will provide the Precognitive
product as a value-added benefit to its network of retailers.
"We see over 100 million devices per month across our network,"
said Sam Yagan, CEO of ShopRunner.
"Aggregating that scale for the benefit of each of our retailers
represents yet another manifestation of our fundamental thesis that
our partners can each benefit from the combined reach of the
ShopRunner network. Precognitive equips our partners with
industry-leading algorithms to detect and combat online fraud and
account takeover issues taking a toll on their e-commerce revenue
and interfering with their ability to offer a seamless and safe
shopping experience for customers."
"Joining forces with ShopRunner expands the breadth of our data
intelligence network. Our collective clients from retail, travel,
banking, and digital services have an unprecedented global vantage
point to detect sophisticated cybercrime trends as they emerge,"
said Sam Bouso, CEO of Precognitive.
"ShopRunner's investment in our product will allow us to accelerate
development and grow operations to meet demand."
In 2018, ShopRunner members spent over $2
billion in the network as the company continues to expand
its product offerings for both retailers and consumers. The
acquisition of Precognitive kicks off 2019 on the heels of a year
that included the launch of mobile app District, the acquisition of
Spring, a $40M fundraise, and new
additions to its Board of Directors.
About ShopRunner
As the premier e-commerce network,
ShopRunner offers its members free two-day shipping, free returns,
and seamless checkout. Spending billions of dollars in the
ShopRunner network annually, ShopRunner's millions of members prove
every day that retailers can attract the highest value customers by
offering free, fast, and convenient login, shipping, and checkout
options. ShopRunner's network partners include Neiman Marcus Group,
Hudson's Bay Company, Kate Spade
& Company, & Cole Haan, and
over one hundred others.
About Precognitive
Precognitive is revolutionizing the
way companies fight online fraud and protect their customer
accounts. Its fraud prevention platform provides a
multi-dimensional solution that combines device intelligence,
advanced behavioral analytics, and machine learning.
Precognitive develops innovative, easy-to-deploy technology
that intelligently interprets data to create an unrivaled level of
accuracy in fraud detection and prevention. It delivers immediate
impact for businesses by stopping fraud while also reducing false
positives and avoiding disruption to legitimate consumers.
About UPS
UPS (NYSE: UPS) is a global leader in
logistics, offering a broad range of solutions including
transporting packages and freight; facilitating international
trade, and deploying advanced technology to more efficiently manage
the world of business. Headquartered in Atlanta, UPS serves more than 220 countries
and territories worldwide. UPS was awarded America's Best Customer
Service company for Shipping and Delivery services by Newsweek
magazine; Fortune magazine's Most Valuable Brand in Transportation;
and top rankings on the JUST 100 list for social
responsibility, the Dow Jones Sustainability World Index, and the
Harris Poll Reputation Quotient, among other prestigious rankings
and awards. The company can be found on the web at ups.com or
pressroom.ups.com and its corporate blog can be found
at longitudes.ups.com. The company's sustainability
eNewsletter, UPS Horizons, can be found
at ups.com/sustainabilitynewsletter . To get UPS news
direct, follow @UPS_News on Twitter.
Contact: Jenn Glassey,
215-292-4601, jglassey@tierneyagency.com
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SOURCE ShopRunner