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Logistics Technology Company Veho Raises $170 Million Series B At $1.5+ Billion Valuation

Feb 15, 2022•over 3 years ago

Amount Raised

$170 Million

Round Type

series b

Description

Veho, a technology company that is revolutionizing package delivery, today announced a $170 million Series B led by Tiger Global with SoftBank Vision Fund 2 participating at a $1.5+ billion valuation. The funding comes just 6 weeks after the company closed an oversubscribed A round at a $1B valuation, bringing the company to $300 million of capital raised to date. Existing investors, including General Catalyst, Bling Capital, Construct Capital, Industry Ventures and Origin Ventures, also participated in this round. Other notable investors in the company include The Chainsmokers Mantis VC Fund, and the founders and CEOs of Allbirds, Everlane, FIGS, Harry's, Flexport, and Warby Parker.

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