Veho, an ecommerce tech company powering optimized product delivery experiences, has announced it has raised $125 million in Series A funding thanks to leading investors General Catalyst. The investment also featured participation from Construct Capital, Bling Capital, Industry Ventures, Fontinalis Partners, and Origin Ventures.
“We’re providing e-commerce brands a fast, tech-forward and customer-centric delivery option that ensures brand perception makes it past the purchase, all the way through to the customer door,” said Veho CEO and co-founder Itamar Zur. “We avoid many of the traditional pitfalls of logistics and shipping through advanced proprietary technology, a culture that places the customer experience at the center of everything we do and our partnership with professional and qualified crowdsourced drivers. We’re in 14 US cities today and expect to be serving brand partners and consumers in every major market by the end of 2022, including introducing and scaling our doorstep returns program.”
With the new funding, Veho aims to grow its team size to help expand its product into new U.S. markets. Currently, the company operates in 14 U.S. markets, but by the end of 2022, Veho looks to develop itself in 50 markets in the country. The company also plans to continue to develop its product and technologies to deepen customer experiences.
Veho’s technology platform is tailor-made to handle diverse delivery needs for both e-commerce brands and customers. The personalized solution crowdsources data from marketplaces to ensure packages are delivered on time and correctly. By giving recipients the ability to view their package delivery status during the whole cycle, users can gather better insights.
“The role of last-mile logistics in e-commerce is more important than ever and Veho is bringing much-needed innovation to a space that has for years struggled to keep up with the dramatic increase in demand while focusing on a superior consumer experience,” said Kyle Doherty, Managing Director at General Catalyst. “Ita, Fred and the Veho team are re-imagining how delivery logistics can be architected to bring a competitive advantage to e-commerce brands while creating more opportunities for delivery professionals that choose to join the Veho platform.”