OrderProtection.com Raises a $10 Million Series A Led by Maddix Capital
OrderProtection.com, a purchase protection platform based in Los Angeles and Lehi, Utah, announced it has raised an $10 million Series A investment. The round—the first external investment raised by the company—was led by Maddix Capital. Bolt, a cross merchant shopper network headquartered in San Francisco with offices in Salt Lake City and Stockholm, is one of OrderProtection.com's key strategic partners. It too participated in the round.
Formerly bootstrapped, OrderProtection.com says it has over 285,000 protected orders, representing over $30 million in protected client revenue. "Our team could not be more excited to partner with the Maddix Capital team," said Julian Wilson, CEO and Founder of OrderProtection.com. “Maddix’s operational support and capital will position us for our next phase of growth by allowing us to expand, increase our technology stack, and add additional integrations, strategic partners, and employees.”
Jesse Silva, Maddix Capital Founder and General Partner, and Jake Gubler, Maddix Capital Director, will advise and support OrderProtection.com as board member and board observer, respectively. TechBuzz profiled Maddix Capital earlier this year in an Investor Mindset Series article.
“Shoppers expect fast, exceptional service from brands—especially post-purchase,” said Silva. “OrderProtection.com does that and more, elevating the customer experience while simultaneously cutting support costs for brands across the world. We are excited to support the OrderProtection.com team with our sales and marketing, and FP&A (Financial Planning & Analysis) resources through this next unique phase of hyper-growth.”
With over 210 million packages lost, stolen, or damaged in North America in 2021, OrderProtection.com simplifies and expedites post-purchase issue resolution for e-commerce brands and shoppers. OrderProtection.com's mission is to create the optimal customer experience and to save claim management and customer service costs by providing outsourced managed services to brands and merchants.
OrderProtection.com plans to fill several key positions in the near term. However, the company plans to keep its sales department small and lean as it relies on its team's deep knowledge and relationships in the eCommerce sector.