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Roadie raises $37 million to expand peer-to-peer package delivery service

Image Credit: Roadie

Over 57 million people in the U.S. have a “side hustle,” according to a recent Gallup poll, and a good chunk of those gig economy workers spend their off hours ferrying boxes to doorsteps through TaskRabbit, Postmates, or Amazon Flex. (McKinsey estimates that total annual deliveries in the U.S. will double within 10 years.) By far one of the largest independent contractees is Atlanta, Georgia-based Roadie, which launched in 2015 with the simple premise of recruiting a fraction of the estimated 250 million vehicles on the road to transport goods en route to their destinations.

In the roughly five years since its launch, Roadie has teamed up with brands like Delta, Walmart, the Home Depot, Kroger, Macy’s, and United to fulfill deliveries to over 224 metropolitan statistical areas (MSAs) around the country. To that end, the company’s more than 120,000 drivers have completed deliveries in just over 11,000 cities and towns — a larger footprint than Amazon’s Prime Now two-hour delivery service, it says.

To fuel expansion well into the next year, Roadie today announced at the Retail Industry Leaders Association’s Link 2019 conference that it has secured $37 million in series C funding, bringing its total capital raised to $62 million. The Home Depot led the oversubscribed round, with Warren Stephens’ and former Alphabet chair Eric Schmidt’s TomorrowVentures and others participating.

Above: The Roadie app.

Image Credit: Roadie