India: Logistics SaaS startup FarEye raises $100m led by TCV, Dragoneer
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May 25, 2021
Logistics software-as-a-service (SaaS) platform FarEye on Tuesday said it has raised $100 million in a Series E round led by US-based investors Technology Crossover Ventures (TCV) and Dragoneer Investment Group, as the covid-19 pandemic accelerates the need for enterprises to scale their supply chain operations efficiently to meet the rising share of online deliveries.
As part of the transaction, Gopi Vaddi, general partner at TCV, will join FarEye’s board of directors. TCV, a long-time backer of Netflix Inc., made its first investment in India earlier this year, with Dream Sports. FarEye is its second investment in the country.
FarEye Raises $100 Million to Grow Delivery Platform
May 25, 2021
FarEye, maker of a SaaS delivery management platform that gives shoppers delivery windows as short as an hour, has raised $100 million in a Series E round led by TCV and Dragoneer Investment Group, along with existing investors Eight Roads Ventures, Fundamentum and Honeywell.
As part of the funding round, Gopi Vaddi, a general partner at TCV, will join FarEye’s board of directors. This is the company’s third funding round since 2020, bringing the total raised to $153 million.
FarEye, based in in Chicago and founded in India in 2013, plans to further the capabilities of its delivery automation platform, while expanding in Europe and North America and bringing on new hires in marketing, sales and development. Among its 150 retail and ecommerce customers are Dominoes, Walmart, Amway, DHL eCommerce, Finland Post and Singapore Post.
FarEye raises $100 m in Series E funding
May 25, 2021
Funding led by TCV, Dragoneer Investment Group
FarEye, an end-to-end global delivery management platform, has raised $100 million in a Series E round led by TCV and Dragoneer Investment Group.
Existing investors Eight Roads Ventures, Fundamentum and Honeywell also participated in the round. The funds will be used to accelerate the company’s mission of empowering brands to provide Amazon Prime-like delivery experiences and redefining how products are delivered across diverse logistics networks. FarEye will further focus on expanding its software platform capabilities, drive European and North American expansion, and continue to attract world-class talent. As part of the transaction, Gopi Vaddi, General Partner at TCV, will join FarEye’s board of directors.
Read more about Global delivery management platform FarEye raises $100 mn in Series E round on Business Standard. The firm caters to a multibillion-dollar delivery management market that continues to show double-digit year-on-year growth