Roadie Secures $37 Million in Funding, Including Investment From The Home Depot
ATLANTA--(BUSINESS WIRE)--Feb 25, 2019--, the on-the-way delivery service with the nation’s largest local same-day footprint, today announced that it has raised a $37 million oversubscribed Series C funding round with investments from The Home Depot, Warren Stephens and Eric Schmidt’s TomorrowVentures, among others. This round brings the total funding raised to date to $62 million.
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Marc Gorlin, Founder & CEO of Roadie, at The Home Depot (Photo: Business Wire)
This funding follows Roadie’s announcement of recent delivery partnerships with Delta Air Lines, The Home Depot, and Walmart. Roadie has used these partnerships 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.
Because Roadie’s on-the-way model taps into unused capacity in passenger vehicles already on the road, the company is uniquely positioned to help America’s largest retailers bring same-day delivery to millions of customers nationwide — even in small cities and towns that most retailers struggle to reach. The company’s same-day delivery footprint now reaches 89 percent of U.S. households.
“In today’s hyper-competitive retail environment, it’s not enough to only offer same-day delivery to folks in NFL cities,” said Marc Gorlin, Founder & CEO of Roadie. “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. An investment like this further validates our crowdsourced model, which retailers are fast realizing is a highly flexible, scalable, and cost-efficient option to reach all of their customers, wherever they might live.”
“The Home Depot 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 jobsites are a critical part of that,” said Mark Holifield, EVP – The Home Depot Supply Chain. “We’re investing to bring this level of service to 90 percent of the US population, and Roadie is a key partner for us in making this a reality.”
Roadie made the announcement at LINK 2019, the Retail Industry Leaders Association supply chain conference, with hundreds of retail leaders present. With this funding, Roadie will continue to innovate its dynamic routing and pricing models and expand its use of machine learning to predict capacity and match deliveries to its community of drivers based on real-time supply and demand. Since its 2015 launch, Roadie has grown to over 120,000 drivers and has delivered to more than 11,000 cities and towns nationwide — a larger footprint than Amazon Prime Now.
To learn more about how Roadie delivers scalable and flexible same-day delivery nationwide, please visit roadie.com.
Roadie is the first on-the-way delivery service that puts unused capacity in passenger vehicles to work by connecting people with items to send with drivers already going that way. Roadie works with consumers and businesses across virtually every industry to provide a faster, cheaper, more scalable solution for scheduled, same-day and urgent delivery. With over 120,000 drivers, the Roadie community has delivered to more than 11,000 cities and towns nationwide — a larger footprint than Amazon Prime Now.
Roadie is backed by Warren Stephens of Stephens Inc.; The Home Depot; the UPS Strategic Enterprise Fund; Eric Schmidt’s TomorrowVentures; David Bonderman, founder of TPG Capital; Guggenheim Partners’ Executive Chairman Alan Schwartz; Square Co-founder Jim McKelvey; among others. For more information, visit www.roadie.com.
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CONTACT: Jackie Copp, Pitch Public Relations
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT TRANSPORT OTHER TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT RETAIL
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PUB: 02/25/2019 07:00 AM/DISC: 02/25/2019 07:01 AM