QuickCode ai

Company Overview

QuickCode.ai is a software company that provides an AI-powered platform for trade compliance and HS classification. The company was born out of necessity, originally developed at Harvard University to help build complex machine learning models for research. Today, QuickCode is based in McLean, Virginia and focuses on helping importers, exporters, trade law firms and consultants streamline their trade compliance processes.

Products Overview

QuickCode’s main product is a 24/7 trade compliance monitoring platform that includes the following key features:

1. Compliance Dashboard - Provides real-time alerts on potentially non-compliant products and regulatory changes.

2. Instant Compliance Audit - Allows users to upload their product catalog for immediate auditing against the latest trade compliance data.

3. AI-Assisted Classification - Uses advanced AI to assist compliance experts with HS code classification.

4. Bulk Import and Classification - Enables uploading and classifying large datasets efficiently.

5. Data Export and ERP Integration - Offers flexible data export options and integrates with existing ERP systems.

The platform keeps trade compliance data up-to-date, including Harmonized Tariff Schedule (HTS) codes, Participating Government Agency (PGA) information, Anti-dumping and Countervailing Duties, Chapter 99 tariffs, Chapter 99 exclusions, and identification of new and changing CROSS rulings relevant to products.

Founding Team

The founding team includes:

• Shannon Hynds - CEO
• Joe Morales - Chief Technology Officer
• Rebecca Fair - Founder and Board Member
• Gary King - Founder and Board Advisor

Problem and Market Fit

QuickCode addresses the challenge of staying compliant with rapidly changing trade regulations and tariffs. For importers and manufacturers, keeping trade compliance data current is critical for avoiding penalties, maintaining smooth supply chains, and ensuring products reach destinations without delays. The manual process of tracking regulatory changes is time-consuming and error-prone. QuickCode’s AI-powered platform automates and streamlines this process.

Business Model

QuickCode appears to operate on a software-as-a-service (SaaS) model, offering both a free tier with limited features and an enterprise tier with full functionality. The enterprise tier likely involves a subscription fee, though specific pricing is not provided.

Funding and Runway

In May 2024, PS27 Ventures announced an investment in QuickCode.ai, though the amount was not disclosed. No other funding information is available from the provided materials.

Competitive Landscape

The trade compliance software market includes other players, but QuickCode differentiates itself through its AI-powered approach and comprehensive feature set. The company claims its solution is superior due to rapid onboarding, immediate value delivery, and high adoption rates among compliance teams.

Customers

While specific customer names are not provided, QuickCode’s website shows logos of several companies, indicating they may be customers or partners. These include Subaru of Indiana Automotive, Field Fastener, KYG Trade, Cubic, and Gallagher Transport, among others.

Relevant News

• June 2024: QuickCode.ai won second place in the 8th Annual Veteran Startup Showcase.
• April 2024: Announced integration partnership with Cubic, providing HS classification capabilities to Cubic’s customers.
• March 2024: Announced integration partnership with Know Your Goods™, combining their respective technologies for enhanced HS classification solutions.
• February 2024: Appointed Amanda Peaker, LCB, as Board Advisor and Bo Evans, LCB, as Vice President of Sales.
• May 2023: Appointed Todd Owen, former CBP Executive Assistant Commissioner, as Board Advisor.

QuickCode continues to expand its partnerships, enhance its leadership team with industry experts, and gain recognition in startup competitions, indicating steady growth and increasing market presence in the trade compliance technology sector.