Oops, I Raised $5 Million From Pre-Seed Round - TechBuzz News

Oops, I Raised $5 Million From Pre-Seed Round – TechBuzz News

Oops, the take-back service raised $5 million in a pre-incorporation round led by Peterson Ventures (Salt Lake City), with participation from EPIC projects (Salt Lake City) Billion Venture Partners (Cottonwood Heights), Maverick Ventures (San Francisco), The global village (San Francisco) and a number of local angel investors.

oops Solves the hassle of returning items in-store and online by picking up returns at your doorstep, printing labels, saving boxes, shipping returns online, and queuing for in-store returns. The preliminary round was used to fund start-up costs, staffing and marketing expenses.

Prior to Oops, both founders, Jonathan Crowley and Joseph Hatch, had extensive experience in finance, strategy and operations. Hatch has worked for both Goldman Sachs and Intermountain Ventures as an investor. Crowley worked for Collective Medical as Chief Financial Officer, helping the company grow from 30 employees to more than 200 employees. PointClickCare has acquired Collective MedicalCrowley stayed on to help integrate the two companies before moving away to focus on Oops. When Oops decided to raise the salary, Crowley got back in touch with his VC contacts from Collective Medical, raising the round mostly with contacts from previous interactions.

Pointing to the upsurge of such an early start-up, Crowley explains, “This is a big, meaty problem. Just to put it in perspective, there were $761 billion in revenue in 2021 alone, and each of those returns was a pain point for both consumers and suppliers.” It’s a huge TAM.”

High school friends Crawley and Hatch met on the Pleasant Grove High School golf team. The two were roommates at BYU and kept in touch after they went their separate ways.

Towards the end of 2021, Hatch took a Saturday morning to return several items to various stores. The process left him frustrated and upset. While pitching business ideas to Crowley, he mentioned this experience and they decided to consider it.

“There is a meaningful pain point that a lot of people feel,” Crowley says. “There was also a willingness to push and adopt something new. We didn’t just see that firsthand and through client interviews…so we decided to follow it up.”

Oops was launched in June 2022 to find an easy way to return products. Users simply log in Sorry and schedule a pickup. They place a description of the item and carry any required labels or receipts, or choose to leave paper labels with the returned items. Users can choose either doorstep delivery or personal delivery. Before the deadline, users place their return items at their doorstep. Returns do not need to be prefilled. “You can hang a shirt on your doorknob and we’ll come pick it up,” Crowley says. When the Oops driver is on the way, users receive a text to notify them and another text as soon as the item is picked up.

From there, Oops takes care of the rest. Drivers bring the returned items to an Oops warehouse, where they are sorted, packed, labeled and returned to the original retailer.

“As long as you can ship it on a plane, we’ll take it,” Crowley says.

Oops offers a $15 monthly subscription for unlimited pickups, with a 30-day free trial. Customers can also schedule one receipt for $6, with $2 for each additional item. Each insured return up to $1,000.

Crowley mentions pain points such as the unpredictability of returning items, long return lines, and wasted time and effort on a product you no longer want. “It’s not a fun interaction,” he says.

On top of these pain points, Hatch points out 30% of e-commerce products are returned online and 9% of products are returned in-store. Many returns cannot be resold, and according to Hatch, some stores use a process called energy recovery where they sell excess and unwanted items for pennies to an energy company that burns the items and turns them into energy. “There are many cases where this is not even profitable, but it is the most cost-effective way for them to get away with it,” says Hatch.

“Our goal is to be on top of the returns funnel wherever the consumer initiates the return process, and work with retailers and consumers to figure out the best possible, environmentally friendly way for us to dispose of, recycle and resell, or reuse these items,” says Hatch.

Making returns easier can increase returns for a while, says Hatch, but in the end, “there is actually a flow that leads people to become more thoughtful about the products they produce and why they receive so much returns.”

Since its launch, Oops has gained enthusiastic customers, some of whom have used Oops more than 100 times since its launch.

Oops currently has 13 full- and part-time employees who understand the vision. “In my first conversation with Jonathan Crawley, I had a pile of proceeds in my house, so I specifically located the interview next to the store where I needed to return,” says Ari Mason, head of marketing at Oops. “But I didn’t bring the stuff, I forgot! I just hate running errands so much and love spending my time doing things I love. Our time is so precious.”

To find out more or schedule an appointment to receive returns, check out sorry site Or download the app for Iphone or Android.

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