Ohi, the next-generation instant commerce platform that enables brands to meet their customers' expectations of superfast delivery in under two hours, closed a $19 million Series A funding round.
WHO: Ohi is the leading instant commerce solution for direct-to-consumer brands looking to grow their business by enabling powerful post-purchase experiences. Leveraging its proprietary, data-driven inventory management technology and robust micro-warehouse platform to forward-position inventory within city centers, Ohi enables brands to offer a premium, environmentally responsible, instant delivery experience to their customers. The company currently serves New York, Brooklyn, Chicago, San Francisco, and Los Angeles.
WHY: Ohi will use the new investment to expand throughout the US, with a near-term goal of operating in 25 cities by the end of 2022. Ohi will also use the funding to expand its product offering to include delivery in under 20 minutes.
IN THEIR OWN WORDS: "In the last year, the e-commerce market has seen significant growth driven mainly by small and medium-sized companies, despite them making up just 32% of the market," said Nick Hsu, Partner at Palm Drive Capital.
“We are starting to see a major shift towards instant delivery play out more broadly across the DTC market space, and Ohi has effectively captured the post-purchase customer experience the same way that Shopify has created a renowned pre-purchase one.”
“It's no secret that the future is instant," said Justin Mateen, Principal at JAM Fund. "Ohi has the vision to completely transform the post-purchase space, enabling instant commerce for everyone, everywhere, without depending on large marketplaces. Ohi is led by an inspired and driven leader, and I'm proud to have invested in the team shaping the future of commerce.”
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