Deliverr Raises $170 Million in Series D Funding Round Led by Coatue
Deliverr, a leading fulfillment provider for e-commerce businesses, has recently announced that it has raised $170 million in a Series D funding round led by Coatue . The funding round also included participation from existing investors such as 8VC, GLP, and SoftBank Vision Fund 2. With this latest funding, Deliverr’s total funding has reached $240 million .
Founded in 2017, Deliverr provides affordable and fast fulfillment services for e-commerce businesses of all sizes. The company’s platform enables merchants to store their inventory in Deliverr’s network of warehouses across the United States and Canada. When a customer places an order, Deliverr picks, packs, and ships the product to the customer on behalf of the merchant. The company’s technology optimizes shipping routes and consolidates orders to reduce shipping costs and delivery times .
Expanding its Fulfillment Network
With the new funding, Deliverr plans to expand its fulfillment network to reach more customers across the United States and Canada. The company also plans to invest in its technology platform to provide even faster and more affordable fulfillment services for its customers .
Partnering with Coatue
Coatue, the lead investor in Deliverr’s Series D funding round, is a global technology investment firm that has invested in several successful companies such as DoorDash, Instacart, and ByteDance. Coatue’s investment in Deliverr highlights the growing demand for affordable and efficient fulfillment services in the e-commerce industry .
The Benefits of Deliverr
Deliverr’s platform offers several benefits for e-commerce businesses. Firstly, the company’s network of warehouses enables merchants to store their inventory closer to their customers, reducing shipping times and costs. Secondly, Deliverr’s technology optimizes shipping routes and consolidates orders, further reducing shipping costs and delivery times. Finally, Deliverr’s platform integrates with several e-commerce platforms such as Shopify, Walmart Marketplace, and eBay, making it easy for merchants to manage their orders and inventory .
Deliverr’s recent funding round led by Coatue highlights the growing demand for affordable and efficient fulfillment services in the e-commerce industry. With its expanding fulfillment network and advanced technology platform, Deliverr is well-positioned to meet this demand and provide fast and affordable fulfillment services for e-commerce businesses of all sizes.