Founded by Matt Warren, Veeqo is an online inventory, order & shipping management platform for retailers. Matt has 12 years of experience running e-commerce companies with a combined turnover of £40m. His last successful exit was Jura Watches, an online luxury watch retailer.
Matt started Veeqo because “he was frustrated with the amount of time spent by team members updating stock from Amazon to EBay, and overselling on online channels because there was no central system to manage stock levels across various sales channels.” Matt found out that most of the products on the market did not do what he wanted. He therefore decided to build a solution that not only met his needs but was also simple and easy to use. Finding great people to work with was the main challenge he faced.
“It’s a pain for online retailers who sell on multiple online marketplaces to keep track of all the orders, ship the correct products from multiple courier companies and avoid overselling.” says Appah Prince, the marketing manager. Appah adds, “We have already matched our competitors or beaten them in functionality. We achieved this through complete focus and investment on the product, not on sales & marketing.”
According to Appah, following are Veeqo’s competitors and their respective weak areas –
Stichlabs – Based in San Fransisco, US. It only does stock syncing, so cannot help with shipping. It is completely focused on the US at the moment.
Ordoro – Based in Austin. It handles Inventory & Shipping but only the US couriers. Inventory syncing is weak (only does it every 20 minutes) and has no ability to match products easily from different sales channels.
LinnWorks – Based in the UK. One has to install it on a Windows PC, so does not work on Mac/tablets/smartphones. It has a “complicated UI”.
Brightpearl – Based in the UK/US. It tries to do everything, (has own account module, CRM module) but has poor UI and is very expensive with prices starting from £279pm.
Since its launch, Veeqo has grown around 25% each month. In 2014, the company had a team of 15 and Veeqo has recently hired around 10 people to accelerate growth. The team size is now 23 people. With new source of funding, Veeqo aims to expand across the world, grow its customer base and release more amazing features.
Veeqo’s target customers are online e-commerce merchants across the world. It monetizes through a monthly subscription model. Prices range from £25 per month to £300 per month.
Veeqo was recently invited to number 10 Downing Street as one of the 10 startups to be selected across the UK to pitch to top European Venture capitalists. (Check here – http://www.pitch10.co/)
Please visit http://www.veeqo.com/ for more information.
