Warren Stephens, UPS Strategic Enterprise Fund lead investment from new and existing investors to drive growth of platform
June 14, 2016 – Roadie, Inc., the on-the-way delivery network, today announced a $15 million Series B round to make delivering anything easy, convenient and cost-efficient. Roadie will use this funding to broaden its partnerships, build new distribution channels and expand its capacity, in order to accelerate the goal of providing same-day, out-of-the-box delivery, across town or across the country.
“Roadie has become the single, best way to send hard-to-transport items,” said Marc Gorlin, founder and CEO of Roadie. “From patio furniture to pets, Roadie makes ‘out-of-the-box’ delivery as easy and convenient as ordering a pizza. Since our launch in 2015, we’ve learned a lot about market demand and about how to tap into existing travel patterns in order to meet that demand in an easy, cost-effective manner. Demand generation is our key focus in 2016, and this financing round will help us significantly ramp up those efforts, including hiring a world-class CMO to expand and grow our market presence.”
Unlike typical on-demand companies, Roadie utilizes excess capacity in vehicles already on the road, rewarding drivers for delivering items on trips they are already taking.
“Roadie is unlocking a massive, untapped resource to create convenient, inexpensive delivery solutions across the country,” said Warren Stephens, CEO of Stephens Inc., who led the latest financing round. “By making it easy to tap into the excess capacity in passenger vehicles already on the road, Roadie makes it possible to send what otherwise might be impossible, using the most robust transportation infrastructure in existence today.”
Roadie is revolutionizing the way consumers and businesses send oversized, heavy or awkwardly shaped items, saving time and money. Senders can use Roadie’s web, iOS or Android app to get a free estimate, set up a Gig, and get their items on the road, with protection up to $10,000 provided by UPS Capital®.
“UPS is committed to investing in innovation,” said Rimas Kapeskas, Managing Director of the UPS Strategic Enterprise Fund. “We believe the sharing economy is creating interesting opportunities, as both small businesses and consumers look for new ways to move things more quickly and efficiently than ever before. The UPS Strategic Enterprise Fund creates a progressive way for us to collaborate and learn from companies like Roadie, who are exploring new business models and building new technologies that can transform the future direction of the logistics industry.”
Since launching in January 2015, the Roadie app has been downloaded by more than 250,000 people nationwide. The Roadie app is available for download in the App Store, Google Play store and at www.roadie.com.