Deliverr bags $250 million in a Series E funding round

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Deliverr fulfillment centre | iTMunch

Deliverr, a United States-based e-commerce fulfillment business, announced that it raised about $250 million in a Series E capital raise round. The round was led by a new investor Tiger Global. Old and existing investors also participated, which included GLP, 8VC, Activant, Coatue and Brookfield Technology Partners.

The US-based company Deliverr essentially provides fulfillment service to e-commerce merchants to online marketplaces, like Walmart, Shopify, eBay and Target. Fulfillment centers are physical locations from where third-party logistics providers ‘fulfill’ customer orders for online retailers. 

Deliverr also uses predictive analysis for anticipating demands for products. The predictions are based on multiple variables, which include geography and demographics.

Deliverr on raising $250 million

The latest Series E funding round has brought Deliverr’s company valuation to $2 billion. This doubles the valuation from the last funding round that happened earlier in 2021. 

This freshly raised capital will be used for accelerating commercial operations as well as expanding the next-day fulfillment service of Deliverr to e-commerce merchants of all sizes in the United States. The latest capital raise has positioned the fulfillment startup as the best capitalized as well as the highest valued business in the e-commerce logistics and fulfillment space.

Deliverr co-founder and Chief Executive Officer, Harish Abbott said that the most effective way to address supply chain congestion is by moving inventory closer to the end customer.

It is the only business working in order to solve this problem via stronger inventory placement and also leveraging cutting-edge machine learning as well as optimization tech for building a smarter fulfillment network.

Abbott added that with this new capital, the startup aims at focusing on scaling next-day fulfillment for e-commerce merchants and growing its world-class team of data scientists, engineers and operations experts.

Commenting on participating in the investment round, John Curtius (Partner at Tiger Global) said that the Deliverr is finely positioned to lead the online fulfillment pce as multiple market forces merge.

He adds that while the international supply chain stays challenged due to the after-effects of the pandemic, consumer demand and online sales volume for next-day delivery is projected to set new records.

SEE ALSO: ‘Shopify of embedded finance’ startup Productfy grabs $16 million in funding

About US-based ecommerce fulfillment startup – Deliverr

Deliverr has an affordable and fast online fulfillment network that aids merchants in selling more of their products with lover ad spends and higher conversions. The startup ultimately helps in merchant’s grow and prosper faster. In fact, Deliverr merchants grew 90% faster year-on-year as compared to ecommerce growth rates that were at a fraction of this rate.

Apart from anticipating demand, Deliverr uses its predictive analytics technology to preposition products close to demand. The forward deploy network of the company has over 80 warehouses, sort centres and cross-docks.

Deliverr’s approach of stocking products close to the places of demand is helpful in reducing a significant number of miles the product has to travel, which enables its Next-Day delivery at reasonable costs. In just about 3 years of its operations, the network of Deliverr is on track to empower over $2.5 billion GMV run-rate by this year end.

SEE ALSO: Boston-based Snyk raises $530 million in a Series F round

For more latest IT news and updates, keep reading iTMunch

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Riddhi Jain is a technology content writer. She is based in India and has been working as a content writer since 2018. Riddhi has been writing content in the tech domain since May 2020 and can’t get enough of it. Riddhi has pursued most of her education from her hometown, Indore. She has graduated as a Bachelor of Business Administration and discovered her love for writing blogs while pursuing an internship during college. Once she discovered her love for writing, she went on to improve this skill set (and hasn’t stopped since). Riddhi’s writing relationship with iTMunch began in May 2020. This is where she developed a knack for writing content for the technology domain. She's an expert in tech content writing who has written over 700 blogs for iTMunch in just a year. Riddhi loves diving deep into tech sub-domains like financial technology, marketing technology, HR technology, Artificial Intelligence and gaming technology. She loves staying updated with the latest and upcoming trends in digital marketing, digital payments, fintech, gaming, web design and app development. She cherishes writing about futuristic technologies like blockchain and cryptocurrency, NFTs, Internet of Things, Facial Recognition, Machine Learning, Edge Computing, etc. Riddhi also likes to keep an eye on what’s going on with the tech titans like Google, Facebook and Apple. One of her major interests is in staying updated with the latest IT startups and the groundbreaking technologies they’re coming up with. When Riddhi is not writing content, she is binging on documentaries on Netflix (check out ‘The Great Hack’, ‘Seaspiracy’, and ‘What the Health’). She also likes reading books once in a while (Yuval Noah Harari and Michelle Magorian are some of her favorite authors). Riddhi also likes listening to podcasts like The Tim Ferriss Show (do listen to the ones with guest Naval Ravikant) and The Joe Rogan Experience.