FarEye, a London, UK-based end-to-end, global delivery management platform, raised USD 100m in Series E funding.
The round was led by TCV and Dragoneer Investment Group with participation from existing investors Eight Roads Ventures, Fundamentum and Honeywell.
The company intends to use the funds to expand its software platform capabilities, drive European and North American expansion, and continue to attract talent. As part of the transaction, Gopi Vaddi, General Partner at TCV, will join FarEye’s board of directors.
Founded in the year 2013 by Kushal Nahata, Gaurav Srivastava, & Gautam Kumar, FarEye provides a global delivery management platform for brands to provide Amazon Prime-like delivery experiences
The platform is used by brands across retailers, manufacturers and third-party logistics providers & carriers, including DHL ecommerce, Amway, Dominos, Walmart, Posti, Gordon Foods, UPS and more to launch and champion multiple delivery models like same-day, next-day, on-demand, and curbside from multiple inventory locations.
More specifically, FarEye enables enterprise to:
- Manage the end-to-end process of delivering goods or services to consumer and enterprise customers across both 3rd party and in-house fleet models
- Provide end-customers with a positive delivery experience while lowering logistics costs
- Leverage a modular, cloud-native and low-code platform, which allows clients to build individualized workflows to suit their delivery requirements
- Handle enterprise-scale volumes and compliance requirements
The platform processes over 100 million transactions each month, supports more than 25,000 drivers, and is integrated into a network of over two million vehicles.