Veho secures unicorn status with a $125 million Series A round
Veho, a startup that enables personalised next-day package delivery, has announced a $125 million Series A raise led by General Catalyst at a $1 billion valuation.
The cash will be used to grow its team, expand from 14 to 50 US markets by the end of 2022, and improve the consumer experience through technology advancement.
Powered by a crowdsourced driver marketplace, Veho's technology matches demand for package delivery with driver partners.
“We’re providing e-commerce brands a fast, tech-forward and customer-centric delivery option that ensures brand perception makes it past the purchase, all the way through to the customer door,” says Veho CEO and Co-founder Itamar Zur.
“We avoid many of the traditional pitfalls of logistics and shipping through advanced proprietary technology, a culture that places the customer experience at the centre of everything we do and our partnership with professional and qualified crowdsourced drivers.”
“We’re in 14 US cities today and expect to be serving brand partners and consumers in every major market by the end of 2022, including introducing and scaling our doorstep returns programme.”
“The role of last mile logistics in e-commerce is more important than ever and Veho is bringing much needed innovation to a space that has for years struggled to keep up with the dramatic increase in demand while focusing on a superior consumer experience," says Kyle Doherty, Managing Director at General Catalyst.
"The Veho team are re-imagining how delivery logistics can be architected to bring a competitive advantage to e-commerce brands while creating more opportunities for delivery professionals that choose to join the Veho platform.”
