VeriShip, a Kansas City, MO-based SaaS shipping expense optimization platform, acquired Valence, a software and managed service company that tracks Amazon’s operational errors for sellers in its Fulfillment by Amazon (FBA) program.
The amount of the deal was not disclosed.
The acquisition enables VeriShip to offer managed services and insights for small to mid-sized businesses shipping across the world’s largest parcel shipping and fulfillment networks – Amazon (NASDAQ:AMZN), DHL (OTCMKTS:DPSGY), FedEx (NYSE:FDX), and UPS (NYSE:UPS).
Valence’s technology taps into Amazon’s Marketplace Web Service API to identify Amazon’s operational errors in handling a seller’s FBA inventory. Then, Valence associates negotiate reimbursements owed. Similarly, VeriShip combines its cloud-based parcel analytics platform that aggregates and audits data on 70 million packages shipped annually through DHL, FedEx and UPS – with expert data scientists to recover refunds for small and mid-sized businesses. Its data scientists further analyze and compare data to optimize the shipping environment and prevent future overcharges and inaccuracies through carrier contract engineering and predictive analytics.
VeriShip provides a SaaS-based spend management and payments platform that tracks, audits and analyzes shipping invoice data to support small and mid-sized businesses shipping with the four largest U.S. carriers. Its platform gives SMBs control of their shipping data with a single source of cloud-based visibility into parcel spend. Its team of data scientists and parcel experts uses the platform’s shipping data to benchmark and forecast, enabling clients to negotiate shipping contracts and optimize and reduce future shipping spend.
Since 2006, the company has served nearly 6,000 businesses to optimize shipping on nearly $2 billion in parcel spend.