Deliverr scores $170M to bring fast delivery to every e-commerce vendor
At a time when e-commerce is exploding due in large part to the pandemic, a business that helps any online merchant ship goods to a consumer in one or two days is going to be in demand. Deliverr is a startup that fits that bill, and today the company announced a $170 million financing round.
The round includes $135 million Series D financing led by Coatue. The remaining $35 million comes in the form of a convertible note led by Brookfield Technology Partners. Existing investors Activant Capital, 8VC and GLP participated in both parts of the investment. In less than four years, the company has raced from rounds A to D, raising $240 million along the way.
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Warehouse and delivery startup Deliverr said Wednesday it has raised an additional $170 million, including a $135 million Series D funding round led by venture capital firm Coatue and a $35 million convertible note led by Brookfield Technology Partners. Existing investors such as 8VC, Activant Capital and GLP also participated, San Francisco-based Deliverr said.
The latest round brings to $240 million the total capital raised by the company, which positions itself as an asset-light warehouse and next-day delivery provider that handles warehousing, storage and delivery for merchants that lack the resources and desire to do it themselves. Deliverr owns no warehouses or delivery vehicles and has no labor on its payroll. Instead, it contracts with warehouse operators for space of varying sizes and does the same with delivery partners. Deliverr uses its own technology to underpin the operation.
How to land startup funding from real estate giant Brookfield, which manages $600 billion in assets
There are big investment firms, and then there are big investment firms. Brookfield Asset Management, the Toronto-based,122-year-old outfit whose current market cap is $63 billion and that oversees $600 billion in assets, clearly falls into the latter camp. Think real estate, infrastructure, renewable power, private equity and credit. If it falls into a defined asset class, Brookfield probably has it in its portfolio.
That’s also true of venture capital, though venture is new enough to Brookfield that founders who might like its capital are still getting the memo. Indeed, it was a little less than four years ago that Brookfield Technology Partners began investing off the company’s balance sheet, and soon after recruited Josh Raffaelli a Stanford MBA who cut his teeth as a principal with Draper Fisher Jurvetson, then spent another five years with Silver Lake to lead the practi
5 Companies That Came To Win This Week
For the week ending Feb. 12, CRN takes a look at the companies that brought their ‘A’ game to the channel. By Rick Whiting February 12, 2021, 03:29 PM EST
The Week Ending Feb. 12
Topping this week’s Came to Win list is SentinelOne for its savvy acquisition in the security data analytics space.
Also making the list are IoT security startup Armis for an impressive funding round that doubles the company’s valuation, new ServiceNow consulting services and solutions provider Thirdera for its launch, and HP Inc. for debuting a program to help channel partners with diversity and sustainability issues. And HCL is on the list for surpassing the $10 billion annual revenue threshold – and providing generous bonuses to the employees that made it happen.