Deliverr 170m coatue 240msternlichtforbes, a California-based e-commerce fulfillment company, has raised $170 million in a funding round led by Coatue, a technology-focused hedge fund, and $240 million from Barry Sternlicht, the CEO of Starwood Capital Group. The funding will be used to expand the company’s operations and improve its technology platform.
The Growth of Deliverr
Deliverr was founded in 2017 and has quickly become a leader in the e-commerce fulfillment industry. The company offers a range of services, including warehousing, inventory management, and shipping. Its platform integrates with major e-commerce platforms like Amazon, Walmart, and Shopify, allowing sellers to easily manage their orders and inventory. The company’s growth has been impressive, with revenue increasing by more than 800% in 2020. Deliverr currently serves thousands of sellers across the United States and has a network of more than 15 warehouses.
Importance of the Funding Round
The funding round led by Coatue and Sternlicht is also significant for Deliverr as it will allow the company to continue its rapid expansion. The funds will be used to hire additional staff, open new warehouses, and improve the company’s technology platform. Coatue is a well-respected technology-focused hedge fund that has invested in companies like Uber, DoorDash, and Instacart. Its investment in Deliverr is a strong endorsement of the company’s potential. Sternlicht’s investment is also notable as he is a seasoned investor with a track record of success. His investment in Deliverr suggests that he also sees significant potential in the e-commerce fulfillment industry.
Conclusion
Deliverr’s latest funding round is a significant milestone for the company and the e-commerce fulfillment industry as a whole. The investment from Coatue and Sternlicht will allow Deliverr to continue its rapid growth and improve its technology platform. As e-commerce continues to grow, companies like Deliverr will also play an increasingly important role in helping sellers manage their orders and inventory.