US-based e-commerce delivery service Deliverr has secured $170m in series D equity and debt financing from investors including logistics, real estate and investment management firm GLP.
Investment manager Coatue led the $135m equity portion of the round, participating alongside GLP, 8VC and Activant Capital. Brookfield Technology Partners supplied another $35m in convertible note financing to take the company’s overall financing to more than $240m.
Deliverr provides an artificial intelligence algorithm-equipped logistics service to merchants on online marketplaces and social media portals such as eBay, Facebook, Instagram, Shopify and Wish, helping them deliver the products within two days at an affordable price.
The cash will go towards renting more warehouse space and improving the company’s offering including its Free NextDay Delivery product.
Michael Krakaris, Deliverr’s co-founder and CEO, told TechCrunch the company had 50 employees at the beginning of 2020 but has added 100 more and is planning to double the size of its team this year.
GLP had already taken part in a $40m series C round for the company in February 2020 led by Activant Capital and backed by 8VC and private investor Ryan Peterson.
Deliverr had closed a $23m GLP-led series B round in September 2019 that included 8VC, which had led its $7.1m series A round the year before with participation from Peterson and fellow angel investor Shan-Lyn Ma.
