Ottawa, Canada-based logistics startup GoFor Industries has raised $20 million CAD in a Series A funding round held in December 2020, led by Builders VC along with participation from MetaProp, GroundBreak Ventures and existing investors Plug & Play Ventures and Panache Ventures.
Proceeds from the funding round will be used by the startup to accelerate its expansion into the United States.
The latest round brings the startup’s total capital raised to date to almost $30 million CAD.
Founded in June 2016 by Brad Rollo and Tyler Nelson, GoFor Industries provides last-mile, on-demand and same-day delivery through its logistics solutions and delivery services for the home development and construction industries. Last-mile refers to the movement of goods from a conveyance hub to a final destination. The startup’s delivery business and logistics platform consist of trucks of all sizes that deliver to the customer’s doorstep within 3 hours of them buying some goods. It claims to have made over 200K deliveries and has hundreds of customers which include some of the leading retail brands, including one of the largest home development stores in the United States and Canada.
The startup claims to have witnessed momentous growth over the past several months, observing that the COVID-19 pandemic has led to an increase in demand for same-day delivery. It is reporting a 500% growth in revenue since March. GoFor Industries also reported that it recently forged partnerships with multiple Fortune 500 retailers to provide quick delivery for construction, building materials, and other consumer goods. This is the second funding amount secured by the startup in the last six months. In July 2020, GoFor Industries raised $9.8 million CAD in a seed funding round, also led by San Francisco-based Builders VC. It stated plans to use its seed capital to fast-track expansion across North America. With the help of this Series A funding, the startup will expand into 11 new cities, that are Atlanta, Washington DC, San Francisco, Detroit, and Chicago. GoFor presently operates in Dallas/Fort Worth, Houston, San Antonio, Charlotte and across Canada.
About Builders VC
Builders VC is a venture capital firm, helping founders modernize old-fashioned industries. It was founded in 2016 and is headquartered in San Francisco, California. Builders VC believes it takes more than great technology to fix an old-fashioned industry. To truly make long-lasting and impactful change, the VC firm supports entrepreneurs who combine courage, technical shrewdness, and operational proficiency in building companies.
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