SOURCE: Deliv

Deliv

February 24, 2016 09:30 ET

Deliv Raises $28 Million in Series B Funding

UPS Strategic Enterprise Fund Becomes New Investor Alongside Existing Investors

MENLO PARK, CA--(Marketwired - February 24, 2016) -  Deliv, the leading crowdsourced, same-day delivery company, today announced that it has raised $28 million in funding, with participation by a new investor, the UPS Strategic Enterprise Fund, and existing financial and REIT investors including Upfront Ventures, RPM Ventures, PivotNorth Capital, General Growth Properties, The Macerich Company, Simon Venture Group, Taubman Centers, Inc. and Westfield Corp. The funds will be used to support Deliv's dramatic growth, enhance its product depth and breadth and broaden its national footprint.

"Deliv has gained a strong position in the same-day delivery market by offering a unique solution that serves some of the largest retailers in the U.S.," said Alan Gershenhorn, executive vice president and chief commercial officer for UPS, a global leader in logistics. "Our Strategic Enterprise Fund continues to invest in companies that have innovative business models, and we look forward to gaining further insights into the market dynamics of same-day delivery."

Deliv stands out in the fast-growing same-day delivery market. Deliv is focused exclusively on managing the movement of goods, but it does not sell them. This unique business model has proven to be a winning strategy for Deliv, attracting the nation's top retailers, leading e-commerce players, local merchants, and businesses.

Deliv's strategy of making last mile delivery ubiquitous by creating an asset free logistics network has paid off. In 2015, Deliv more than doubled the number of markets it serves to 17, grew delivery volume 10x, and demonstrated repeatable profitability. Deliv powers delivery and returns services of some of the nation's top retailers including Macy's, Bloomingdale's, Best Buy, Kohl's and Walgreens as well as marketplaces and e-commerce leaders including Google Express, Farfetch, The Bouqs and Plated. It also partners with thousands of local merchants and businesses that use Deliv to courier documents around town, deliver cupcakes or deliver time critical supply parts.

"We are thrilled with this strong vote of confidence from the UPS Strategic Enterprise Fund and our existing investors," said Daphne Carmeli, founder and CEO of Deliv. "This round of investment will allow us to rapidly scale and further advance our position in the fast growing, multibillion dollar same-day delivery market."

To learn more about Deliv and how the company continues to transform last mile delivery, please visit Deliv.co.

About Deliv
Deliv is a leading crowdsourced, last mile logistics company that powers scheduled, same-day delivery and returns for omnichannel retailers, local businesses, and e-commerce companies. Deliv is focused exclusively on moving goods; it does not sell them. It powers same-day delivery for over 4,000 businesses including leading retailers such as Macy's, Best Buy, Kohl's and Walgreens. The company currently operates in 17 markets and more than 100 cities. Deliv is headquartered in Menlo Park, California and is backed by global logistics leader United Parcel Service, financial investors including Upfront Ventures and RPM Ventures, and REIT investors. For more information, visit www.deliv.co.

About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the web at ups.com® and its corporate blog can be found at longitudes.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.

Image Available: http://www.marketwire.com/library/MwGo/2016/2/24/11G084269/Images/0717_p-637d7df76e27af4490c2365170c275a6.jpg
Image Available: http://www.marketwire.com/library/MwGo/2016/2/24/11G084269/Images/1699_p-5e57243070578c69b1a8e8ce890f1bb4.jpg

Contact Information