SEATTLE--(BUSINESS WIRE)--Pandion, the parcel network designed for e-commerce residential delivery and founded by Amazon Air founder Scott Ruffin, today announced a $41.5 million Series B funding round led by Revolution Growth. Other participants included existing investors Playground Global, Prologis Ventures, Bow Capital, Telstra Ventures, AME Cloud Ventures, and Schematic Ventures and new investors Proof and Sentinel Global.
Pandion will use the new funding to accelerate the growth of its residential parcel delivery network, including building new technology offerings, expanding its geographic reach, and increasing delivery speed for customers like Saks Fifth Avenue. As part of the funding, Kristin Gunther, partner at Revolution Growth, will join Pandion’s board of directors. Pandion is also excited to announce new members of its leadership team to help steer this next phase of growth:
- Brent Cervenka joins as Chief Operating Officer, bringing 26 years of experience from Flexport, Pitney Bowes, Target, and Amazon, where he led the launch and development of its middle-mile transportation and sortation networks.
- Jeff Petersen rejoins Pandion as Head of Network Design and Strategy. His 29-year career has included transportation and logistics roles at Flexport, Walmart, J.W. Logistics, Amazon, Target, and FedEx Express.
- Jay Sackos joins as VP of Sales, having spent 20 years in transportation sales at Dolly, Schneider National, and C.H. Robinson.
- Austin Luhman joins as Head of Product, bringing 20 years of product development and leadership experience from roles at Veho, Walmart, Jet, and others.
Ruffin, Pandion’s founder and CEO, has more than 25 years of experience in logistics. He played leading roles in building Amazon’s sortation center network and carrier diversification strategy before founding and leading Amazon Air. Before founding Pandion, Ruffin served as head of Walmart’s e-commerce transportation division.
“With this new funding and the expansion of our leadership team, Pandion is positioned to disrupt e-commerce delivery for brands of all sizes,” said Ruffin. “Companies can no longer rely on just the national parcel carriers, but they also don't have the resources to build their own parcel delivery capability or a diversified network of national and regional carriers. They need an alternative. That's where Pandion comes in.”
Pandion uniquely manages the package journey for brands, picking up at their fulfillment centers, sorting packages through a connected network of sortation centers, and delivering through a vast network of 500,000+ final-mile drivers. Today, Pandion reaches more than 80% of homes in the U.S. The company leverages machine learning and its proprietary universal label to make the best delivery decisions for every package. With this unrivaled package-level flexibility, Pandion is driving an optimal delivery experience at lower price points compared to national and regional providers. The company owns and operates a nationwide network of sortation centers — near Philadelphia, Dallas, Los Angeles, Chicago, and Atlanta — with more to come, which give Pandion the capacity to deliver millions of packages across the U.S.
Pandion’s growth coincides with increasing consumer expectations for fast, on-time delivery of packages, decreasing satisfaction with the largest shipping providers, and surging parcel volumes. According to Capital One Shopping Research, 21.2 billion packages shipped in the U.S. in 2022 and projections indicate that as many as 32 billion packages will ship in 2028.
“Effective, resilient shipping and delivery networks are essential to keep households and economies running,” said Gunther. “But consumer demand, driver shortages, and capacity constraints regularly threaten the system. At a time when retailers are diversifying their carrier portfolios and searching for options beyond the parcel duopoly, Pandion can offer a more flexible and responsive shipping network. The company makes an Amazon-like model accessible to retailers that are looking to improve their logistics agility.”
About Pandion
Founded in 2020 by Amazon and Walmart veteran Scott Ruffin, Pandion is shipping the future of residential e-commerce delivery. Pandion uniquely manages the package journey for brands, picking up at their fulfillment centers, optimizing logistics with technology, sorting packages by destination through a connected network of sortation centers, and delivering through a vast network of 500,000+ final-mile drivers. Brands like Saks Fifth Avenue get instant access to more delivery options, faster transit times, and better delivery experiences for their customers. Visit pandion.com to learn more.
About Revolution Growth
Revolution Growth is a venture capital fund investing in growth stage companies around the country that are leading disruption within their industry. Led by Steve Case, Ted Leonsis, and Steve Murray, Revolution Growth has a proven strategy of partnering with entrepreneurs to build and scale category-defining companies. Revolution Growth is headquartered in Washington, D.C. and part of Revolution’s family of funds, including Revolution Ventures and the Rise of the Rest Seed Funds. Visit us online at revolution.com/growth or @Revolution.
