DALLAS--(BUSINESS WIRE)--PICKUP, an enterprise-grade, last-mile delivery solution provider for leading retailers and commercial businesses, today announced it has closed $15M in a Series B funding round. The round was led by NewRoad Capital Partners with participation from existing investors TDF Ventures, Noro-Moseley Partners and Florida Funders. Additional investors in the round include Autotech Ventures and the New York Angels.
Proceeds from the round will help PICKUP expand its geographic reach and scope of services, further accelerating PICKUP’s rapid growth. In response to increasing demands from leading retailers and commercial partners, PICKUP has expanded its fulfillment capabilities to meet its customers’ increasing expectations for fast, convenient delivery service.
PICKUP’s integrated API solution, PICKUP Enterprise, enables national retailers and commercial businesses to offer same-day and scheduled delivery of their full assortment of goods, including big, heavy and high-value items, whether they are purchasing online or in store, providing customers what they want, when they want it. PICKUP Enterprise leverages PICKUP’s “Good Guy” network, specializing in the delivery and assembly of big and heavy goods alongside its partner network of courier services, including Postmates, which specializes in small parcel. 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 revenue. Since the launch of PICKUP Enterprise in 2020, PICKUP’s customers have seen a 2X increase in basket sizes and a 23% conversion lift with Buy Online, Deliver From Store (BODFS). Retailers with existing BODFS workstreams can accelerate their omnichannel capabilities to allow consumers to get what they need, when they need it.
“Businesses today require a friendly, easy and reliable last-mile delivery solution, and that’s exactly what PICKUP provides,” said Brenda Stoner, Founder and Chief Good Guy, PICKUP. “PICKUP helps our customers provide advanced Buy Anywhere Delivery Anywhere (BADA) experiences. This funding will allow us to expand our services, enabling more brands and retailers to offer exceptional delivery.”
“NewRoad saw the combination of PICKUP's nationwide network of Good Guys, providing two-man deliveries of big and heavy to enterprise customers, along with the PICKUP Enterprise platform, built to support eCommerce and omnichannel capabilities, as a unique offering in today’s environment,” said Tracy Black, Operating Partner, NewRoad Capital Partners. “PICKUP offers and executes on faster delivery SLAs with higher customer satisfaction (NPS) than what are currently offered in the market by traditional providers. I am excited to join the board and leverage my industry and technology background in partnering with the team to accelerate its growth.”
PICKUP currently serves over 75 cities within the United States and partners with major brands including Big Lots, At Home, Trane and American Standard. By integrating with PICKUP’s Enterprise delivery API, retailers instantly access a powerful on-demand delivery network, providing white-glove and contactless delivery at a consistently high level of customer experience. PICKUP’s Perfect Delivery™ algorithm helps businesses optimize their delivery experience success with business intelligence, including delivery quality, tracking on-time performance and Net Promoter Score.
About PICKUP
PICKUP® is an enterprise-grade, last-mile delivery service and one of the nation’s fastest growing on-demand logistics providers. The company’s trust-verified PICKUP Good Guys deliver a broad assortment of small and large items, from household essentials to furniture and mattresses. PICKUP partners with leading retailers to transform their omnichannel delivery experience with solutions, such as contactless Buy Online Deliver From Store (BODFS). The company’s intelligent platform and success teams enable PICKUP Good Guys to consistently provide exceptional customer experiences. PICKUP currently operates in over 75 cities and reaches 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 equity capital firm based in Rogers, AR, that invests in proven and innovative technologies, products, and services that serve existing, unmet needs in the marketplace. NewRoad focuses on investing in and acquiring demand-driven businesses in the Retail and CPG and Business Services industries with an emphasis on Supply Chain and Logistics, marketing, human capital, franchising and consumer-facing healthcare. For more information visit: https://newroadcp.com/
