FarEye, a leading end-to-end, global delivery management platform, recently announced a US$ 100mn Series E round led by TCV and Dragoneer Investment Group. Existing investors Eight Roads Ventures, Fundamentum and Honeywell also participated in the round.
Founded in the year 2013 by Kushal Nahata, Gaurav Srivastava, and Gautam Kumar, FarEye is addressing a multi-billion dollar delivery management market that continues to show double digit year on year growth.
“The funding is very timely for the delivery and logistics sector as we have seen consumers spending US$ 861billion online with U.S. retailers in 2020, up 44% from $598 billion in 2019,” remarked Kushal Nahata, CEO and Co-Founder, FarEye.
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.
The company’s platform processes over 100million transactions each month, supports more than 25,000 drivers, and is integrated into a network of over two million vehicles.