Mothership Raises $76M for Its Same-Day Freight Delivery Platform
The Covid-19 pandemic caused bottlenecks and delays across the supply chain, but at the same time, companies like DoorDash and Gopuff have set consumers’ expectations for faster and faster delivery times.
DoorDash and Gopuff, along with PayPal-owned returns-logistics business Happy Returns, are powered by Mothership, an Austin-based tech startup that allows businesses to make same-day freight deliveries by automatically dispatching orders to the nearest freight truck in its network of tens of thousands of freight operators. Mothership’s technology also tracks shipments and identifies the most optimal route for short-haul freight truck drivers.
The startup announced Wednesday that it raised $76 million, which it will use to grow its team and expand its on-demand freight platform from 37 markets to a nationwide network.
Mothership employs 75 people, 30 of which are based in Austin. The company has 25 open positions now, but with the funding round, it plans to ramp up its hiring efforts. CEO Aaron Peck told Built In he expects to the team to reach 120 to 150 employees by the end of the year.
“We’re doubling down on customers and carriers in our 37 markets to continue our mission of lightning-fast delivery that feels magical,” Peck said. “We’ll continue investing in the best talent to build a world-class product.”
Mothership grew at the height of the pandemic, more than quadrupling its revenue from same-day last-mile deliveries.
The $76 million in funding came from Benchmark, WestCap, Bow Capital, former Con-way Freight CEO Douglas Stotlar and other investors. Benchmark General Partner Bill Gurley said in a statement that Mothership is leveraging technology and its marketplace to benefit customers in the short-haul and final mile.
“In the ongoing great logistics reshuffling, Mothership is built to help get things done in an increasingly on-demand world,” Gurley said.