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Deliverr bags $250M in latest funding round led by Tiger Global

Deliverr bags $250M in latest funding round led by Tiger Global
Deliverr bags $250M in latest funding round led by Tiger Global

Deliverr, a San Francisco-based e-commerce fulfillment startup, has reportedly raised over $250 million through a Series E funding round, backed by American investment firm, Tiger Global.

With this funding, the company’s valuation has reached $2 billion, more than double what it had after the previous funding round where it had raised $170 million, backed by the American hedge fund Coatue.

Deliverr’s technology, which is to provide e-commerce fulfillment services on various marketplace platforms such as Target, Walmart, eBay, Shopify, and Amazon, will enable next-day delivery at affordable values to merchants regardless of global supply-chain disruptions.

The startup makes use of predictive analytics on variables such as geography and demographics to presume the demand of products, and accordingly make arrangements for items to be available close by.

Co-founder and CEO Harish Abbott has stated that the company’s approach is to create a network of more than 80 warehouses, sort-centers, and cross-docks in proximity to the areas of demand, which will lessen the distance the product travels to reach its destination, making the whole operation faster and affordable for the merchant.

Abbott added that this approach has helped a number of Deliverr merchants grow by 90% y-o-y.

The CEO stated that to cater to the high demand caused by the pandemic, and tackle the added constraint of labor shortages, the company had to come up with more creative partnerships and expansion strategies.

With the new capital, the company aims on refining its technology and product development, while adding more employees and expanding its next-day delivery capabilities.

Abbott adds that the startup will also invest in various new capabilities such as LOT tracking, temperature control, and returns to become a fulfillment service that is ‘easiest-to-use’ for brands.

Among the round of investors, Tiger Global was joined by Deliverr’s existing investors Activant, Brookfield Technology Partners, 8VC, GLP as well as Coatue.

In a written statement, John Curtius, partner at Tiger Global, stated that Deliverr will be able to solve the disruptions in logistics chains while providing merchants with next-day delivery capabilities while also saving their money.

Curtius added that the startup boasts of cutting-edge technology and infrastructure to lead the e-commerce fulfillment space like ‘no other’.

Source credit: https://techcrunch.com/2021/11/22/deliverr-inventory-customers/

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.