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Next-Day Package Delivery Startup Veho Valued At $1B Following $125M Series A

Dec 21, 2021•over 3 years ago

Amount Raised

$125 Million

Round Type

series a

Description

Veho, a startup applying technology to next-day package delivery, aims to solve the last mile of delivery — how packages get from fulfillment centers to the customer’s door. It also wants to do it with a unique flair: providing transparency into deliveries that starts with the option of when, where and how customers want their packages delivered and then real-time communication throughout the whole process.

Company Information

Company

Veho

About

To do that, and invest in technology development, growing the team and introducing and scaling its doorstep returns program, the company announced $125 million in Series A funding that valued the company at $1 billion. You might be asking yourself why in the world a young company would take on so much capital up front like that, but Zur responded that Veho is “a substantial platform, not a small operation at this point, and we want to maintain fast growth.”“We have an opportunity in the midst of the biggest e-commerce revolution, and after growing fast through the pandemic, that is not going away Zur doesn’t see Veho competing against the likes of Deliverr or some of those others, but does see the company competing with the national shipping companies. The biggest missed opportunities are connecting the dots between the pre-packaged experience and delivery to help brands build more loyalty and for people to stay with them longer, to buy more and buy more frequently.”Veho is not alone in trying to solve the last-mile problem, and is among companies around the world also raising capital for their approaches.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech