Feb. 26, 2019
Roadie, an on-the-way delivery service, said it raised $37 million in Series C funding led by The Home Depot and Tomorrow Ventures, the fund led by Warren Stephens and former Google CEO Eric Schmidt, according to a company release.
Roadie is an app-based delivery service that uses the unused trunk space of passenger vehicles to deliver all types of goods. The service is available through more than 120,000 drivers in 11,000 cities and towns across the country.
The company plans to use the funding to expand its dynamic routing and pricing model and to increase the use of machine learning technology to match delivery routes to drivers.
"In today's hyper-competitive retail environment, it's not enough to offer same-day delivery to folks in NFL cities," Roadie founder and CEO Marc Gorlin said in the announcement. "Our model is a game-changer for retailers, wholesalers and consumers who want same-day delivery of any item, of any size, to any zip code at any time."
Roadie recently announced delivery partnerships with The Home Depot for same-day delivery; with Delta Air Lines for delivery of delayed baggage; and with Walmart for grocery delivery. Other backers include the UPS Strategic Enterprise Fund, TPG Capital founder David Bonderman, Guggenheim Executive Chairman Alan Schwartz, and Jim McKelvey, co-founder of Square.
The company has raised $62 million to date.
Topics: Financial News, Mobile Apps, Retail
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