Onfleet Raises $14 Million in Series A Funding to Meet Rising Demand
SAN FRANCISCO, CA - Another grocery partner is making headway in the industry. Recently, Onfleet, a provider of last mile delivery management software, raised $14 million in Series A funding. This funding will allow the company to expand its product offerings and better serve its customers.
“We are living in a time of never-before-seen global economic uncertainty, which has turned the need for fast, reliable delivery services from a luxury to a basic necessity,” said Khaled Naim, Co-Founder and CEO of Onfleet. “In a few short months, the importance of our work has become even more pronounced, and we are doing everything that we can to help our clients quickly and efficiently deliver goods to their customers. We’re excited to partner with Kennet so we can double-down on our commitment to help companies adapt, evolve, and scale in this challenging environment.”
Several of Onfleet’s customers include Kroger, Imperfect Foods, and Sweetgreen.
This year alone, a press release explained, Onfleet added hundreds of customers and doubled its year-over-year overall delivery volume as COVID-19 has rapidly accelerated retail’s transition to online, delivery-centric models.
“Online delivery is a long-term growth industry, and the COVID-19 pandemic has only accelerated its explosive adoption. In order to compete, brands will need to extend their customer relationship and service experience to the doorstep, which creates a large market need that Onfleet is well-positioned to solve,” said Javier Rojas, Managing Director at Kennet Partners, the investment firm that led the funding round. “Onfleet’s proficiency in building such a capital-efficient, product-led sales growth model, all while being self-funded, is no small feat. With this additional funding, we are confident Onfleet will continue to expand and scale rapidly to become a market-leading company.”
Retailers can leverage Onfleet’s services to power more efficient deliveries to save valuable time, money, and resources.
The company works with grocery delivery operations, meaning that businesses of any size can find a solution that will help drive operational expansion.
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