Boxlock Padlock - Shark Tank Product
BoxLock was designed to secure your packages and prevent thieves from walking away with your deliveries! With online shopping booming and expected to continue growing, stolen packages have become a significant problem. Brad Ruffkess, the founder of BoxLock appeared on Shark Tank in Episode 1 of Season 10, which aired on October 7, 2018.
The BoxLock fits on containers and it is connected via wifi to a mobile app. All you need to get started is a BoxLock, a container with a hasp ,and the mobile app. The lock can scan package labels to determine whether the recipient and delivery information is correct. If so, it will open and notify you via the mobile app when a delivery is received. The lock is encased in tamper-resistant zinc and the shackles is made of hardened steel. The technology used is proprietary.
Brad Ruffkess came to Shark Tank looking for a $1 million investment in exchange for 5% ownership of BoxLock. Ruffkess did not secure a deal. The Sharks did not see an easy path to profitibility for the company and they felt there was a learning curve involved for the delivery services.
Three versions of the BoxLock are available, one for the home and small businesses, a BoxLock Pro for subscription-based businesses or families that need up to 5 locks and 10 users and BoxLock Enterprise, which supports an unlimited number of users and BoxLocks.