US-based courier company Roadie collected $37m yesterday in a series C round that featured hardware retailer Home Depot.
The round also included participation from venture capital firm TomorrowVentures, private investor Warren Stephens and other unnamed investors.
Roadie has created a mobile app that enables users to courier items by selecting drivers in the network that already going on the same route.
With a network of more than 120,000 riders that can reach 89% of US households at its disposal, Roadie’s mobile app offers scheduled, same-day and urgent delivery services.
The company has also partnered Home Deport, aviation company Delta Air Lines and supermarket chain Walmart to help its expansion plans.
Mark Holifield, executive vice president of supply chain at Home Depot, said: “The Home Depot is committed to building the fastest, most efficient supply chain in home improvement, and our customers have made it clear that same-day or next-day deliveries to their homes and jobsites are a critical part of that.
“We are investing to bring this level of service to 90% of the US population and Roadie is a key partner for us in making this a reality.”
Roadie has now raised $62m in total funding. In 2016, Roadie landed $15m in a series B round that included logistics company UPS’s Strategic Enterprise Fund, TomorrowVentures and Warren Stephens.
UPS Strategic Enterprise Fund had previously joined Warren Stephens, Alan Schwartz and Jim McKelvey for a $10m round in 2015. Private investor David Bonderman is also an investor in the business but it is unclear when he supplied capital.