End-to-end global delivery management platform FarEye, situated in London, UK, secured $100 million in Series E funding.
Eight Roads Ventures, Fundamentum, and Honeywell, who were already investors, also participated in the round, which was co-led by TCV and Dragoneer Investment Group FarEye 100m series.
The company plans to use the capital to increase the capabilities of its software platform, propel North American and European operations, and continue to draw in talent. Gopi Vaddi, General Partner of TCV, will join FarEye’s board of directors as part of the deal.
FarEye, founded in 2013 by Kushal Nahata, Gaurav Srivastava, and Gautam Kumar, offers brands a worldwide delivery management platform to offer delivery services similar to those offered by Amazon Prime.
Brands from retailers, producers, and third-party logistics providers & carriers, such as DHL ecommerce, Amway, Dominos, Walmart, Posti, Gordon Foods, UPS, and more, use the platform to introduce and promote a variety of delivery models, such as same-day, next-day, on-demand, and curbside from a variety of inventory locations.
FarEye specifically gives businesses the ability to:
Manage the full delivery process for both consumer and business customers using both internal and external fleet models.
Deliver goods in a pleasant manner to end customers while reducing logistics expenses
Utilize a low-code, modular, cloud-native architecture that enables clients to create custom workflows to meet their delivery needs.
Take care of enterprise-scale volume and compliance needs.
The platform supports over 25,000 drivers, performs over 100 million transactions each month, and is connected to a network of over two million automobiles.