Last-mile delivery startup focused on apartment communities expands nationally to solve the package problem for property management, ownership groups, and their residents
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Sep 26, 2019, 08:30 ET
AUSTIN, Texas, Sept. 26, 2019 /PRNewswire/ -- Fetch, the first off-site package solution for apartment communities, today announced a $10.5 million Series A round of funding. Signal Peak Ventures led the round, with participation from previous investors including Silverton Partners and Capital Factory. The investment brings the Company's total funding to more than $14 million.
Fetch was founded in 2016 in Dallas, TX, and has recently expanded across the country to scale with current and new clients. They currently operate in Dallas, Fort Worth, Houston, Austin, San Antonio, Seattle, Denver, Atlanta, Orlando, Tampa, Chicago, and Phoenix with Charlotte, DC, and Portland slated to round out 2019.
"I'm incredibly proud of the entire Fetch team for the progress we've made in the last 3 years," said Founder & CEO Michael Patton. "Since our Seed round last summer, we've grown from 6 employees to 140, and increased sales by over 1000%. We've struck a chord in solving the package problem for the industry through exceptional customer service and consistent, reliable execution. I also take great pride in the fact that we've never lost a client."
Fetch accepts all deliveries at local Fetch-operated warehouses, then provides scheduled, door-to-door delivery with residents directly. This solves the package problem for the property and provides residents with a convenient and time-saving amenity. With e-commerce growing rapidly, Fetch is a scalable solution for apartment owners and managers struggling to deal with the exponential growth of tenant deliveries themselves.
"We're excited to partner with Fetch at a true inflection point of expansive growth," said Scott Petty of Signal Peak Ventures. "We are impressed by Fetch's growing list of national clients and are strong believers in the unique approach they are taking to solve the mounting logistical problem of package delivery to multi-unit tenants." With the financing, Petty will join Fetch's Board of Directors.
"We're excited to participate in this financing after witnessing Fetch's growth and execution over the last year," said Kip McClanahan of Silverton Partners. "They've assembled a great team with deep multifamily experience and logistics expertise which will serve them well as Fetch scales nationally."
Fetch Package is a white-glove package delivery amenity for multifamily communities. They accept packages at local facilities and coordinate scheduled, door-to-door delivery directly with residents. Through their easy to navigate Fetch app, residents can quickly schedule 2-hour delivery windows and seamlessly manage their deliveries. Founded in 2016 in Dallas, Fetch has grown to over 140 employees with national clients including Pinnacle, Wood Partners, Alliance Residential, Lincoln Property Company, ZRS, Waterton and many other NMHC Top 50 firms. For more, visit www.fetchpackage.com.
About Signal Peak Ventures
Signal Peak Ventures is a venture capital firm investing in early-stage technology companies. The fund invests in exceptional teams that are attacking big problems in a unique way, with the potential to transform markets and create lasting value. For more information about Signal Peak and its portfolio of investments, please visit www.spv.com.