Lobby Capital leads the round with Corazon Capital and Venture 53 participating
CHICAGO --News Direct-- Better Trucks
New funding expedites market expansion and technology investments
Better Trucks, a technology-driven logistics firm focused on rapid parcel delivery, secured a $15 million round led by venture capital firm Lobby Capital with Corazon Capital and Venture 53 also participating.
Better Trucks is a last-mile delivery carrier focused on next-day and two-day parcel shipping to residential customers, leveraging in-house technology to streamline the delivery process. Its shipping clients include leading national retailers delivering across the Midwest, Northeast, Southeast, and Texas, as well as e-commerce and fulfillment companies such as ShipBob. Better Trucks is also available on the leading multi-carrier shipping platforms such as EasyPost and ProShip.
“This first outside investment allows us to expand our footprint and build upon our proprietary tech stack to deliver a better experience for our clients and their customers,” said Andy Whiting, Better Trucks co-founder and CEO. “These investment partners share our vision for the next age of delivery that puts customers’ unique needs ahead of the outdated demands of legacy delivery companies.”
Better Trucks has expanded its market footprint to 25 metro areas across 17 states, with plans to double its coverage area over the next year. To support its fast-growing customer base, this round injects capital for Better Trucks to invest in additional warehouse capacity throughout the United States and to hire in the technology, operations, and corporate functions, as well as build its flexible driver workforce.
“Better Trucks changes the delivery game through its tech-forward, end-to-end solution for any commercial shipper,” said Eric Carlborg, co-founder of Lobby Capital, lead investor of the round. “We got under the hood of Better Trucks and see a bright future for Andy, Weston and their team who have figured out how to supplant the incumbents to serve clients with flexibility, speed and efficiency as shipping demand soars.”
Retailers, e-commerce, fulfillment companies, and traditional third-party logistics (3PL) distribution companies drive Better Trucks’ growing customer base in a market experiencing rapid growth. Parcel volume in the U.S. increased to 21.6 billion packages in 2021 according to the 2022 Pitney Bowes Parcel Shipping Index. U.S. carrier revenue shot up 16% year over year, to $188 billion.
Founded by Andy Whiting and Weston Webb in 2019, the Better Trucks leadership team marries deep technology and logistics backgrounds, taking a technology-first mindset to their approach to improving parcel delivery.
From the first package scan to the final delivery notification, Better Trucks is building its software solution from the ground up to improve parcel visibility, communication throughout the delivery process, and increase efficiency at every step in the journey.
About Better Trucks
Better Trucks is a technology-driven, last-mile delivery carrier built for digital commerce. Founded in 2019, it delivers a better experience for retailers, e-commerce firms, and fulfillment centers to ship parcels faster with better communication and better value. Specializing in next-day and two-day deliveries, Better Trucks sorts and labels packages within its strategically-placed warehouses and delivers them through its extensive driver network. Visit bettertrucks.com.
View source version on newsdirect.com: https://newsdirect.com/news/last-mile-delivery-carrier-better-trucks-secures-15-million-for-expansion-924334723