Roadie Raises $37M
Last June we covered Roadie , the Atlanta, Georgia-based “on-the-way” delivery service. It’s time for an update now that the company announced a $37m Series C round led by Home Depot, with participation from Warren Stephens and Eric Schmidt’s TomorrowVentures, among others. This round brings Roadie’s total funding to date to $62m.
Since launching in 2015, Roadie has teamed up with brands like Delta, Walmart, the Home Depot, Kroger, Macy’s, and United to fulfill deliveries up to 100 miles over 224 metropolitan statistical areas (MSAs) around the country. The company’s more than 120k drivers have completed deliveries in just over 11,000 cities and towns — a larger footprint than Amazon’s Prime Now two-hour delivery service, it says.
When it comes to coverage, Roadie offers a protection plan of up to $500 at no additional cost. If the value of the gig exceeds $500, senders have the option to purchase additional protection in $500 increments, up to $10k. The cost for extra coverage is $5 for every additional $500 in protection, provided by UPS Capital. And when it comes to insurance requirements from drivers, Roadie recommends checking with one’s insurance carrier to confirm coverage requirements before driving a gig.
“In today’s hyper-competitive retail environment, it’s not enough to only offer same-day delivery to folks in NFL cities. Our model is a game-changer for retailers, wholesalers and consumers who want same-day delivery of any item, of any size, to any zip code, at any time. An investment like this further validates our crowdsourced model, which retailers are fast realizing is a highly flexible, scalable, and cost-efficient option to reach all of their customers, wherever they might live.” – Founder & CEO of Roadie, Marc Gorlin.
“The Home Depot is committed to building the fastest, most efficient supply chain in home improvement, and our customers have made it clear that same-day or next-day deliveries to their homes and jobsites are a critical part of that. We’re investing to bring this level of service to 90 percent of the US population, and Roadie is a key partner for us in making this a reality.” – EVP, The Home Depot Supply Chain, Mark Holifield.