A San Francisco based logistics software development enterprise, Onfleet have added US$14 million Series A funding on 30th October 2020. This round was led by UK based Venture Capital Kennet Partners.
The San Francisco based enterprise founded in 2015 by Mikel Cármenes Cavia, Khaled Naim and David Vetrano is a business to business technology enterprise that develops software for last mile delivery of logistics. It empowers millions of such deliveries every month for its several business services across the globe. Their customer base ranges from laundry and dry cleaning services to food and beverage, flower delivery to pharmaceutical ones and other retail businesses that require last mile logistics. They have a dispatch dashboard for tracking, routing, analytics and dispatching. They have an android and IOS app for the drivers to provide automatic customer notifications and live tracking services. They also have a powerful RESTful API.
The company is planning to invest the freshly raised funding to expand their last mile delivery platform and grow their team for meeting the ever changing needs of delivery and retailer business. They are primarily focusing on machine learning and artificial intelligence technologies which can help them innovate their platform to be easy to use for their customers. They believe that the spending will allow them to improve the product services for both outsourced and in-house delivery businesses and support their international scaling plans and thereby strengthen their position in the last mile delivery technology market. The funding round brings the total funding of Onfleet to US$ 20 million. Following the funding announcement, they also welcomed Javior Rojas to their board. The association of Kennet Partners and Onfleet has shown light to the aim of enterprise for making affordable, fast and easy delivery options available for every retailer.
The enterprise was listed to be among the top 150 fastest growing enterprises of US by the Inc. Magazine and among the 15 fastest growing enterprises of San Francisco by San Francisco Business Times. Since its inception in 2015 the Onfleet software has helped approximately hundreds of enterprises with logistics including Alto pharmacy, Kroger, Imperfect Food, Sweetgreen and many more. They have their services successfully operating in more than 90 countries. The optimization of drivers’ routes by the software has also helped to eliminate 20,000 tons of CO2 emissions. In the Covid-19 pandemic, they held several organizations to manage deliveries of PPE kits, food banks, grocery donations, testing supplies and other essential items free of cost.
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