FarEye has raised $100 million in its Series E funding round, led by TCV and Dragoneer Investment Group. The funding will be used to accelerate the company to continue to provide fast delivery experiences and redefine how products are delivered across logistics networks. Existing investors Eight Roads Ventures, Fundamentum and Honeywell also participated in the round.
“We are very proud to have TCV and Dragoneer join our established investors to support our progress in becoming a global leader in delivery management,” Kushal Nahata, CEO and co-founder of FarEye, said. “The funding is very timely for the delivery and logistics sector as we have seen consumers spending $861 billion online with U.S. retailers in 2020, up 44% from $598 billion in 2019. The growth and the digital transformation in the logistics sector has created an opportunity for software platforms like FarEye to provide a superior customer experience. Our ambition is to enable thousands of businesses to provide Amazon-Prime-like delivery experience, and we aim to drive innovations that re-imagine how deliveries are being managed globally.”
In addition, the funding round will help FarEye further focus on expanding its software platform capabilities throughout Europe and North America.
- As part of the transaction, Gopi Vaddi, General Partner at TCV, will join FarEye’s board of directors.
- FarEye’s intelligent & sophisticated platform is used by brands to launch and champion multiple delivery models like same-day, next-day, on-demand, and curbside from multiple inventory locations.