PICKUP Raises $15M Series B Funding to Meet Demand for Omnichannel Delivery as a Service
DALLAS – (BUSINESS WIRE) – PICKUP, a provider of last mile delivery solutions to leading retailers and commercial enterprises, announced today that it has closed $ 15 million in a Series B financing round. The round was led by NewRoad Capital Partners with the participation of existing investors TDF Ventures, Noro-Moseley Partners and Florida Funders. Other investors in the round are Autotech Ventures and the New York Angels.
The proceeds from the round will help PICKUP expand its geographic reach and scope of services and further accelerate PICKUP’s rapid growth. In response to the increasing demands of leading retailers and trading partners, PICKUP has expanded its fulfillment functions to meet the increasing expectations of its customers for a fast and convenient delivery service.
PICKUP’s integrated API solution, PICKUP Enterprise, enables national retailers and trading companies to deliver their entire range of goods, including large, heavy and high quality items, on a same day and on schedule, regardless of whether they shop online or in-store and customers deliver what you want, when you want it. PICKUP Enterprise uses PICKUP’s “Good Guy” network, which specializes in the delivery and assembly of large and heavy goods, as well as the partner network of courier services, including Postmates, which specializes in small packages. PICKUP is able to provide fulfillment capabilities for everything in a retail partner’s catalog while managing the end-to-end customer experience.
PICKUP’s services are a proven solution to help retailers increase their sales. Since the introduction of PICKUP Enterprise in 2020, PICKUP customers have seen a two-fold increase in shopping cart sizes and a 23% increase in conversion with Buy Online, Deliver From Store (BODFS). Retailers with existing BODFS workstreams can accelerate their omnichannel capabilities so consumers can get what they need, when they need it.
“Businesses today need a friendly, easy, and reliable last-mile delivery solution, and that’s exactly what PICKUP offers,” said Brenda Stoner, Founder and Chief Good Guy of PICKUP. “PICKUP helps our customers to provide extended BADA experiences (Buy Anywhere Delivery Anywhere). With this funding, we can expand our services and bring exceptional delivery to more brands and retailers. ”
“NewRoad saw the combination of PICKUP’s nationwide Good Guys network, which provides enterprise customers with two-man deliveries from large and heavy-duty companies, and the PICKUP Enterprise platform, which is designed to support e-commerce and omnichannel functions as a unique offer in today’s environment. ” said Tracy Black, operating partner at NewRoad Capital Partners. “PICKUP offers and executes SLAs with faster delivery and higher customer satisfaction (NPS) than is currently offered by traditional providers in the market. I am excited to join the board and leverage my industry and technology background to work with the team to accelerate its growth. ”
PICKUP currently serves over 75 cities in the US and works with major brands such as Big Lots, At Home, Trane and American Standard. Through the integration into PICKUP’s Enterprise Delivery API, retailers have immediate access to a high-performance on-demand delivery network that offers white-glove and contactless delivery with a consistently high customer experience. PICKUP’s Perfect Delivery ™ algorithm helps companies optimize the success of their delivery experience with business intelligence, including delivery quality, on-time performance tracking and the Net Promoter Score.
PICKUP® is a last mile delivery service and one of the fastest growing on-demand logistics providers in the country. The company’s trusted PICKUP Good Guys offer a wide range of items, large and small, from household items to furniture and mattresses. PICKUP is working with leading retailers to transform their omnichannel delivery experience with solutions such as the contactless Buy Online Deliver From Store (BODFS). The company’s intelligent platform and successful teams enable PICKUP Good Guys to always offer exceptional customer experiences. PICKUP currently operates in over 75 cities, reaching 150 million people with plans for aggressive expansion. To learn more about PICKUP, including career opportunities, please visit pickupnow.com
About NewRoad Capital Partners
NewRoad Capital Partners, LLC is a growth capital company based in Rogers, AR that invests in proven and innovative technologies, products, and services that meet existing, unmet needs in the marketplace. NewRoad is focused on investing in and acquiring demand-driven companies in the retail, CPG and business services industries with a focus on supply chain and logistics, marketing, human capital, franchising and consumer healthcare. For more information, please visit: https://newroadcp.com/