Delivery firm Roadie raises $37 million

Home Deport is among the latest investors in the same day delivery company.

Delivery firm Roadie raises $37 million

Home Deport is among the latest investors in the same day delivery company.

Delivery firm Roadie raises $37 million

Home Deport is among the latest investors in the same day delivery company.

 
The delivery company Roadie said Monday it had raised $37 million in a Series C funding round that included an investment from Home Depot.
    Other investors in the latest round included Warren Stephens of Stephens Inc. and TomorrowVentures, a venture fund founded by Eric Schmidt, former executive chairman of Google and Alphabet. Combined with earlier investments, Roadie said it has raised $62 million from investors.
    By enabling drivers to make deliveries with their personal vehicles Roadie said its same-day delivery footprint now reaches 89 percent of U.S. households.
    Home Depot uses the company for deliveries, as does Walmart for groceries and Delta Air Lines for delayed baggage.
    Roadie said its “partnerships” with those companies have allowed it to “strengthen its foothold in 224 metro areas across the country. Many of these metro areas were initially launched with consumers and small businesses, but have now scaled to meet the needs of enterprises delivering anything up to 100 miles around every major city in America.”
   Mark Holifield, executive vice president of supply chain at Home Depot, said his company is “committed to building the fastest, most efficient supply chain in home improvement, and our customers have made it clear that same-day or next-day deliveries to their homes and job sites are a critical part of that.”
    Other backers of Roadie are the UPS Strategic Enterprise Fund David Bonderman, founder of TPG Capital; Guggenheim Partners’ Executive Chairman Alan Schwartz; and Square Co-founder Jim McKelvey.

I can absolutely deny that we have started a price war and can also say we have zero intent to do so. We are focused on profitability and generating cash.

Spot container rates from Shanghai to Los Angeles stood at $1,335 per FEU as of May 23, down 2% year-over-year, while rates from Shanghai to New York totaled $2,656 per FEU, up 8% year-over-year, according to Drewry’s World Container Index.

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Delivery firm Roadie raises $37 million

Home Deport is among the latest investors in the same day delivery company.

Feb 26, 2019 on Dec 27, 2018AmericanShipper.com

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Delivery firm Roadie raises $37 million

Home Deport is among the latest investors in the same day delivery company.

Feb 26, 2019 on Dec 27, 2018AmericanShipper.com