The same day delivery service Deliv this week received a funding of $28 million with The UPS Strategic Enterprise Fund as the lead investor, Internet Retailer reports.
- 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. 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, said Alan Gershenhorn, executive vice president and chief commercial officer for UPS.
"We Don't Compete With UPS"
The other investors include Upfront Ventures, RPM Ventures, PivotNorth Capital and several more. Since the company has already raised $12 million, the new investment gives Deliv a total of $40.5 million to spend on expansion.
Deliv, which crowdsources its deliveries to drivers who use their own cars, plans to use the acquired money for expansion to new cities and investments in new tecnology.
- We were looking for Series B funding. These transportation carriers have been in business for long time and understand logistics, so why not have one invest in the company? We can share insights on both sides, and we decided to go for the largest carrier in the world. We can learn from each other, we have common customers. We don’t compete with UPS, we have different markets and models, said Daphne Carmeli Carmeli CEO and founder of Deliv.