Roadie, the on-the-way delivery service, announced Monday (Feb. 25) it raised $37 million in a funding round.
In a press release, the company said the Series C round of funding was oversubscribed and included The Home Depot, Warren Stephens and Eric Schmidt’s TomorrowVentures, among others. To date, Roadie said it has raised $62 million. The funding comes after Roadie announced it inked delivery partnerships with Delta Air Lines, The Home Depot and Walmart. Roadie is using the three partnerships to expand its presence in 224 metro areas across the U.S. Many of the metro areas were first launched with consumers and small businesses and now the company is scaling to cater to enterprise customers delivering anything up to 100 miles around each city in the country.
“In today’s hyper-competitive retail environment, it’s not enough to only offer same-day delivery to folks in NFL cities,” Roadie Founder and CEO Marc Gorlin said in the press release. “Our model is a game-changer for retailers, wholesalers, and consumers who want same-day delivery of any item, of any size, to any zip code, at any time. An investment like this further validates our crowdsourced model, which retailers are fast realizing is a highly flexible, scalable, and cost-efficient option to reach all of their customers, wherever they might live.”
Roadie taps the unused capacity in passenger vehicles that are already on the road to deliver items. It claims to be uniquely positioned to help the biggest retailers in the U.S. bring same-day delivery to millions of consumers nationwide. That includes small cities and towns that are hard for retailers to reach. Roadie boasts 89 percent coverage in the U.S.
“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 job sites are a critical part of that,” Mark Holifield, executive vice president, supply chain for The Home Depot, said in the same press release. “We’re investing to bring this level of service to 90 percent of the US population, and Roadie is a key partner for us in making this a reality.”