Deliverr bags another giant round as it works to move inventory closer to customers

Deliverr bags another giant round as it works to move inventory closer to customers

Today, Google’s video app has a sizable following in the living room, with more than 100 million Americans watching YouTube and YouTube TV on their large screens. Furthermore, according to third-party data conducted by eMarketer in October 2021, more than half of U.S. YouTube watchers, or 113.1 million individuals, currently watch using a connected TV device. Many of those users, though, may not interest in short-form material. Last year, the business said that in a 12-month period, the view time of YouTube material exceeding 30 minutes climbed by more than 90%.

Deliverr, which provides fulfillment services to e-commerce businesses on platforms such as Shopify, Walmart, Amazon, eBay, and Target, employs predictive analytics to forecast product demand based on criteria such as demographics and location, and then preposition items close to demand. According to Harish Abbott, co-founder, and CEO, supply chain constraints are becoming “much more acute,” so the company’s approach is to have a network of over 80 warehouses, cross-docks, and sort centers near points of demand to reduce the number of miles a product travels and make it more affordable to get products faster. Deliverr’s merchants have increased by 90% year over year because of this strategy.

“Demand from the epidemic continues to be high,” he added. “As we witnessed e-commerce emerge as the dominant sales channel while brick-and-mortar stores showed disappointing growth, labor pool limits forced us to be more innovative in our collaborations and development tactics.” Deliverr’s gross merchandise value increased “substantially” year over year, and the company is on track to surpass $2.5 billion by the end of the year. It also expanded its warehouse and carrier network to deliver one-day fulfillment services to the country’s major cities, claiming that half of the population of the United States resides within 100 miles of a Deliverr network.

Meanwhile, the firm doubled the size of its staff and opened offices all over the world, increasing the quantity and variety of its merchant base. By the end of the year, the worldwide e-commerce fulfillment services industry estimated to be worth $86.4 billion, with the market set to nearly double to $168.7 billion by 2028. Deliverr is well-positioned to benefit on customer demands for faster and more dependable distribution methods, as well as global supply chain restrictions, according to Abbott.

With money flooding into firms all over the world, e-commerce fulfillment is having a moment. Hive, Fabric, Sendbox, and ShipBlu, for example, were among the most recent to announce investment in recent months. New investor Tiger Global is leading Deliverr’s latest investment, which is supported by current investors 8VC, Activant, GLP, Brookfield Technology Partners, and Coatue.

Abbott said the company was already “well funded” after raising funds earlier this year, but that interest from investors had increased, and that Tiger was “an exceptional investor and partner” who “has an incredible track record on identifying promising companies, partnering with them, and ultimately building exceptional iconic enterprises,” according to Abbott. The fresh funds will be used to improve the company’s technology and product development, as well as to hire more personnel and increase its next-day capabilities.

“At the end of the day, that’s what generates conversion and amazing customer experiences,” Abbott said. “We’ll also spend in developing additional services, including as refunds, prep, LOT tracking, and temperature control, to make Deliverr the most user-friendly fulfillment service available.” “Delivery is well-positioned to dominate the online fulfillment area as various market factors converge,” said John Curtius, a partner at Tiger Global, in a written statement. “No other firm will be able to answer for supply chain problems, give merchants next-day delivery, and save merchant money – all at the same time,” he added.