Ecommerce fulfillment provider Deliverr has raised $170 million in new funding, bringing the total capital raised to more $240 million.
Deliverr describes itself as “democratizing fulfillment” by enabling merchants of any size to provide a “Prime-like customer experience” with services like two-day and next-day delivery.
The current ecommerce boom has been a boon for the company, which fulfilled millions of orders through its network last year, reporting a six-fold increase from the prior year. In addition to direct-to-consumer fulfillment, Deliverr also works with customers selling on major marketplaces including Walmart Marketplace and eBay and white label ecommerce platforms such as BigCommerce and Shopify.
“Our mission — to enable any merchant, regardless of size, to delight their customers with ultra-fast and cost-effective fulfillment — has become more meaningful than ever in the last year,” said the company in a statement announcing the new funding. “Consumers are increasingly expecting faster delivery times, and we believe next-day delivery will soon become the norm.”
The new investments include $135 million in Series D funding led by Coatue and a $35 million convertible note led by Brookfield Technology Partners, the tech investing arm of major mall operator Brookfield Asset Management. The round also includes participation from existing investors including Activant Capital, 8VC and GLP.
Deliverr will use the new funding to expand next-day delivery coverage across the country, grow its existing network of 50 warehouses and evolve its logistics technology to increase speed and cost efficiencies.
“Delivery can make or break the shopper experience and plays a key role in driving consumer loyalty — but the complex logistics involved in fast, reliable fulfillment and delivery can be difficult to master for companies that have yet to achieve scale,” said Kris Fredrickson, Managing Partner at Coatue in a statement. “Deliverr’s powerful technology and logistics network offer merchants what they need to succeed in the world today. We invested in Deliverr because we believe it has the potential to power the future of online retail.”