Zonos
Cross-border commerce technology calculating total landed cost.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
$69.0m | Series A | ||
| Total Funding | 000k | ||
Related Content
Zonos is a software-as-a-service (SaaS) company that develops technology to simplify international commerce for online retailers. Founded in 2009 by Clint Reid, who serves as CEO, and Daniel Johnson, the company was bootstrapped for 12 years before securing its first institutional funding. Reid's background as an international account executive at UPS and DHL provided him with firsthand experience of the complexities in global shipping, which inspired the creation of Zonos. The company, formerly known as iGlobal, was started in Reid's unfinished basement.
Zonos provides API-first solutions, plugins, and apps that integrate into a business's existing e-commerce platform. Its core service is the accurate calculation of total landed costs, which includes duties, taxes, and fees for international orders, allowing customers to prepay these costs at checkout. This transparency aims to build trust, reduce package rejections, and improve the international customer experience. Key features include automatic Harmonized System (HS) code classification for products, localization of checkout pages with local currencies and languages, international fraud management, and management of cross-border tax compliance. The business model is carrier-agnostic, focusing on providing technology rather than handling shipping logistics.
Headquartered in St. George, Utah, Zonos serves thousands of e-commerce stores globally. In September 2021, the company raised $69 million in a Series A funding round led by Silversmith Capital Partners, with participation from several individual investors. This capital was raised to accelerate product development, go-to-market strategies, and global team expansion to keep pace with the increasing complexity of global trade. The company's revenue is estimated to be between $10 million and $50 million.
Keywords: cross-border commerce, total landed cost, international ecommerce, duty and tax calculation, customs compliance, HS code classification, global trade technology, international shipping software, ecommerce APIs, checkout localization, fraud mitigation, international payments, SaaS, logistics technology, foreign currency management, e-commerce taxation, global trade data, brokerage automation, import fees, export technology