Mothership raises $76 million
Mothership, a short-haul freight-technology company dedicated to same-day delivery, has raised $76 million from Benchmark, WestCap, Bow Capital, former Con-way Freight CEO Douglas Stotlar and other investors.
Founded in 2017, the Austin-based startup allows businesses to deliver freight same day through automatic dispatch to the nearest carriers within their network. Its technology then optimally routes carriers on the most efficient route so that freight travels faster, costs less and reduces overall emissions. Companies like DoorDash, GoPuff, Harbor Freight Tools, Happy Returns, and others use the platform.
All shipments purchased through Mothership have some level of cargo coverage but the company also offers FreightProtect, which was developed in partnership with UPS Capital.
“Businesses are under immense pressure, but many still manage their supply chain and logistics by paper or without same-day freight. They need real-time dispatch and routing and short-haul trucks to succeed and bring their goods from warehouse to consumer. Mothership has built the technology and network at scale to bring freight same day. We believe same-day freight is the future.” – Mothership founder and CEO Aaron Peck.
“The last two years have taught us the importance of the supply chain. I believe Mothership is leveraging technology and a marketplace model to have a bigger impact for consumers and carriers in the short-haul and final mile. In the ongoing great logistics reshuffling, Mothership is built to help get things done in an increasingly on-demand world.” – Benchmark general partner Bill Gurley.
“The e-commerce adoption curve accelerated during the COVID-19 pandemic and continues to drive logistics infrastructure growth. Mothership is well-positioned with strong leadership and best-in-class technology to bring on-demand delivery to more people. Mothership empowers independent and fleet truckers to optimize routes, improve service and increase revenue, much needed in our current supply chain.” – WestCap founder and managing partner Laurence Tosi.
Bottom Line: We made the case for embedded insurance in our recent research report titled Commercial Mobility: Driving Change in Insurance where we discuss transactional, cargo insurance.