US-based delivery mobile app startup Roadie launched yesterday with $10m of series A funding from investors including UPS Strategic Enterprise Fund, the investment arm of logistics company UPS.
The round was led by Warren Stephens, the CEO of boutique investment bank Stephens, and included participation from private investors Alan Schwartz and Jim McKelvey.
UPS and Stephens were previously investors in online lending company Kabbage, the last business formed by Roadie’s CEO and founder Marc Gorlin.
Roadie, which has been compared to online taxi ordering service Uber, operates an app that allows users to ship goods using a range of drivers in the local area. Fees range from $8 to $150, based on mileage and urgency.
Rimas Kapeskas, managing director of UPS Strategic Enterprise Fund, said: “We believe that mobile and the sharing economy are active spaces, generating many creative and intriguing business models, like Roadie. Our Strategic Enterprise Fund is all about staying connected to evolving business models and new technologies.”