Deliverr Raises $170M in Series D Funding from Coatue, $240M Valuation Led by Sternlicht
Deliverr, the California-based e-commerce fulfillment company, has announced it has raised $170 million in a Series D funding round. The round was led by Coatue, a New York-based technology investment firm, and brings Deliverr’s total funding to $240 million.
This new funding round comes at a time when e-commerce sales have skyrocketed due to the ongoing pandemic, and companies like Deliverr have been in high demand. The funds raised will allow Deliverr to continue expanding its services and investing in technology to improve its fulfillment capabilities.
Who is Deliverr?
Deliverr is an e-commerce fulfillment company that helps online merchants store, pack, and ship their products to customers. The company was founded in 2017 and has quickly become a major player in the e-commerce industry, serving thousands of merchants across the United States.
Deliverr’s mission is to help merchants grow their businesses by providing them with fast and reliable fulfillment services. The company offers a variety of fulfillment options, including two-day and three-day shipping, as well as next-day and same-day shipping in select areas.
Why Did Deliverr Raise $170M in Series D Funding?
Deliverr’s latest funding round was led by Coatue, a technology investment firm that has previously invested in companies like DoorDash, Instacart, and Lyft. Other investors in the round include existing investors 8VC and GLP, as well as new investors Palm Tree Crew, a lifestyle brand, and Mithril Capital, a venture capital firm.
The funds raised will allow Deliverr to continue investing in technology to improve its fulfillment capabilities and expand its services to more merchants. The company plans to use the funds to build out its fulfillment network and increase its capacity to handle more orders.
What Does This Mean for Deliverr and the E-commerce Industry?
Deliverr’s latest funding round is a sign of the growing demand for e-commerce fulfillment services, particularly as more consumers shift their shopping habits online. The pandemic has accelerated the shift to e-commerce, and companies like Deliverr have been in high demand as a result.
The funding will allow Deliverr to continue growing its business and investing in technology to improve its services. This will likely result in faster and more reliable shipping for customers, which is a major factor in e-commerce success.
The investment also shows that investors are bullish on the e-commerce industry, despite the challenges posed by the pandemic. As more consumers shift their shopping habits online, companies like Deliverr are well-positioned to benefit from this trend.
Deliverr’s latest funding round is a sign of the growing demand for e-commerce fulfillment services and the continued growth of the e-commerce industry. The funds raised will allow Deliverr to continue investing in technology to improve its services and expand its network to more merchants.
This is a positive sign for the e-commerce industry and for consumers, who will likely see faster and more reliable shipping as a result of Deliverr’s investments. Overall, this latest funding round is a strong indicator of the potential for growth in the e-commerce industry in the coming years.