US-based e-commerce fulfilment service Deliverr secured $250m yesterday in a series E round featuring logistics, real estate and investment management firm GLP at a $2bn valuation.
The round was led by Tiger Global Management and also backed by fellow investment firm Activant, venture capital firm 8VC, investment manager Coatue Management and Brookfield Technology Partners, the VC arm of alternative asset manager Brookfield Asset Management.
Deliverr provides logistics and fulfilment services for online merchants on e-commerce and social media platforms including Shopify, Walmart, Amazon, eBay and Target.
The company plans to use the capital to accelerate the development of its commercial operations and expand its next-day fulfilment service to e-commerce merchants of all sizes across the US.
Deliverr had received $170m in series D equity and debt financing in March 2021. Coatue led the $135m equity portion of the round, participating alongside GLP, 8VC and Activant while Brookfield Technology Partners provided $35m in convertible note financing.
GLP was among the investors in a $40m series C round for Deliverr in February 2020 that was led by Activant with participation from 8VC and Ryan Peterson, after leading a $23m series B round in September 2019.
The series B round also featured 8VC, which had led the company’s $7.1m series A round the year before, participating alongside Peterson and fellow angel investor Shan-Lyn Ma.
Harish Abbott, Deliverr co-founder and CEO, said: “The most effective way to address supply chain congestion is to move inventory closer to the end customer. Deliverr is the only company working to solve this problem through stronger inventory placement, while leveraging cutting-edge machine learning and optimisation technology to build a smarter fulfilment network.
“With this new capital, Deliverr will focus on scaling next-day fulfilment for e-commerce merchants and grow our world-class team of engineers, data scientists and operations experts.”