Skip to content
Search AI Powered

Latest Stories

Veho gains $170 million backing for crowdsourced parcel delivery platform

New York startup plans national rollout, advanced warehouse automation.

veho Screen Shot 2022-02-15 at 3.21.16 PM.png

Crowdsourced package delivery tech firm Veho is planning to expand its territory to build national coverage over the course of 2022 and add more warehouse automation capabilities after announcing $170 million in new investment backing today. 

The “series B” round was led by Tiger Global with participation from SoftBank Vision Fund 2 as well as General Catalyst, Bling Capital, Construct Capital, Industry Ventures and Origin Ventures. It follows a $125 million “series A” venture capital round just three months ago, bringing the startup to $300 million of capital raised to date and a valuation of $1.5 billion. 


New York-based Veho says its technology powers a platform that matches demand for deliveries with crowdsourced drivers. Those drivers collect packages from Veho’s warehouses and provide next-day delivery to consumers on dense, last-mile routes. The firm’s software also enables real-time rescheduling, address changes, personalized delivery instructions, and live customer support through the entire delivery journey.

In addition to growing its geography and automation, Veho plans to use the new money to scale up its recently launched “doorstep returns” program nationally and develop new features like a real-time transportation visibility (RTTV) program. In support of those goals, Veho expects to grow its headcount from nearly 500 employees today to 2,000 by end of 2022, and to invest in corporate development capabilities to evaluate opportunities for strategic acquisitions.

Investors say their new backing for Veho comes as the parcel delivery industry is straining under enormous demand and a permanent shift toward residential delivery. "As e-commerce sales continue to soar, last mile delivery capacity has not kept pace, nor have logistics companies made the technological investment necessary to support a level of customer service that is expected by a new generation of consumers," Lydia Jett, managing partner at SoftBank Investment Advisers, said in a release. "We believe that Veho has built a leading position in this market with an integrated technology platform that facilitates flexible and reliable delivery services, which drives conversion and customer loyalty.”

Recent

More Stories

supply chain pro using multiple screens

Cofactr acquires Factor.io to speed procurement for hardware manufacturers

Supply chain software vendor Cofactr said Thursday that it has acquired the AI-based solution provider Factor.io in a move it said will enable faster procurement and reduce logistical delays for its clients.

According to Cofactr, Factor.io automates the ordering and tracking of manufacturers’ complete list of materials, components and parts—across the hundreds of suppliers that produce and assemble them—so they can more efficiently move from sourcing and shipping to finished goods.

Keep ReadingShow less

Featured

Logistics economy picked up speed in January

Logistics Managers' Index

Logistics economy picked up speed in January

Economic activity in the logistics industry expanded in January, growing at its fastest clip in nearly two years, according to the latest Logistics Managers’ Index (LMI) report, released this week.

The LMI jumped nearly five points from December to a reading of 62, reflecting continued steady growth in the U.S. economy along with faster-than-expected inventory growth across the sector as retailers, wholesalers, and manufacturers attempted to manage the uncertainty of tariffs and a changing regulatory environment. The January reading represented the fastest rate of expansion since June 2022, the LMI researchers said.

Keep ReadingShow less
photo collage of warehouse tech

Supply chain pros are wary of inflation and labor woes

The top worries that supply chain leaders hope to address with new innovations this year include inflationary concerns (68%) and labor shortages (50%), according to a survey on innovation from the third-party logistics provider (3PL) Kenco.

And many of them will have a budget to do it, since 51% of supply chain professionals with existing innovation budgets saw an increase earmarked for 2025, suggesting an even greater emphasis on investing in new technologies to meet rising demand, Kenco said in its “2025 Supply Chain Innovation” survey.

Keep ReadingShow less
photos of white house and a loaded containership

Supply chain groups push back on Trump tariff plan

Industry groups across the spectrum of supply chain operations today are pushing back against the Trump Administration plan to apply steep tariffs on imports from Canada, Mexico, and China, saying the additional fees are taxes that will undermine their profit margins, slow their economic investments, and raise prices for consumers.

Even as a last-minute deal today appeared to delay the tariff on Mexico, that deal is set to last only one month, and tariffs on the other two countries are still set to go into effect at midnight tonight.

Keep ReadingShow less
containers stacked at yard

U.S. manufacturers scramble to avoid pain of tariff war

Businesses are scrambling today to insulate their supply chains from the impacts of a trade war being launched by the Trump Administration, which is planning to erect high tariff walls on Tuesday against goods imported from Canada, Mexico, and China.

Tariffs are import taxes paid by American companies and collected by the U.S. Customs and Border Protection (CBP) Agency as goods produced in certain countries cross borders into the U.S.

Keep ReadingShow less