Maergo (previously known as X Delivery), an Austin, TX-based provider of a national carrier serving retailers and DTC brands, raised $20M in Seed funding.
The round was led by Deep Lake Capital, funds managed by investor and entrepreneur Neel Shah, and ACR Strategic Credit, with participation from RyderVentures, the venture capital arm of Ryder System, Inc.
The company intends to use the funds to accelerate growth and expand operations.
Led by CEO Mark Lavelle, Maergo is a parcel delivery platform, purpose-built for branded direct-to-consumer delivery using modern technology and advanced data capabilities. The fundraise follows a year of product development, team growth, and sales progress with the addition of customers including Saks Fifth Avenue, Allbirds, Chubbies, and Buck Mason. These retailers join a growing list of clients focused on improving the delivery experience for their customers. Technology updates include improvements to their predictive, real-time decision and routing platform that continuously optimizes first, middle, and last mile operations.
The company has delivered more than 8 million shipments. Prior to Maergo, Lavelle was CEO of Magento, which he led to a $1.7B sale to Adobe in 2018, and was cofounder of Bill Me Later, the first BNPL company acquired by PayPal.
FinSMEs
08/12/2022