We are excited to share that Deliverr has raised $170M in new funding — including $135M in Series D funding led by Coatue, and a $35M convertible note led by Brookfield Technology Partners, with participation from existing investors including Activant Capital, 8VC and GLP. This latest funding round brings Deliverr’s total capital raised to over $240M, allowing us to significantly expand warehouse capacity and help evolve our logistics technology to be even faster, hassle-free and cost-effective for the thousands of online merchants that depend on us.
Our mission — to enable any merchant, regardless of size, to delight their customers with ultra-fast and cost-effective fulfillment — has become more meaningful than ever in the last year. At the start of the pandemic, day after day we surpassed our all-time highs in order volume, as people depended on online merchants for essentials. We delivered face masks, vitamins, sanitary products and more to millions of households across the U.S.
It has become clear that the initial spike we saw in online shopping will not subside — eCommerce now makes up more than 20% of total retail sales, up from 15% a year prior, and continues to trend upward. 2020 was our biggest year ever, as Deliverr fulfilled millions of orders through our network — over 6 times more than the year prior.
“Delivery can make or break the shopper experience and plays a key role in driving consumer loyalty – but the complex logistics involved in fast, reliable fulfillment and delivery can be difficult to master for companies that have yet to achieve scale,” said Kris Fredrickson, Managing Partner at Coatue. “Deliverr’s powerful technology and logistics network offer merchants what they need to succeed in the world today. We invested in Deliverr because we believe it has the potential to power the future of online retail.”
“Fast delivery is no longer a nice-to-have, with legacy retailers needing to rapidly evolve their eCommerce strategy in order to stay competitive,” said Josh Raffaelli, Managing Partner at Brookfield Technology Partners. “Deliverr’s ability to arm retailers with Prime-like delivery is a game-changer and a big reason why Brookfield, who has extensive relationships across its retail footprint, is thrilled to partner with Deliverr.”
Consumers are increasingly expecting faster delivery times and we believe next-day delivery will soon become the norm. Merchants who adapt to this trend will increase their sales — our studies show that offering next-day delivery increases sales by 75% percent.
In 2021, we plan on rapidly expanding our next-day delivery coverage across the country, providing an excellent, Prime-like customer experience for our merchants. Moreover, we plan on growing our existing network of 50 warehouses and launching new fast shipping programs with leading sales and marketing channels.
We’re looking forward to our next phase of growth at Deliverr and need talented, passionate people to join us on our journey. In the last year, we grew to over 150 employees and plan to grow the team even further in 2021. Check out our careers page to learn more about our culture and see if you may be a fit.
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