- 15 May 2020
- Transport / Logistics Services
Last mile delivery platform DispatchTrack has received US $144 million in funding from Spectrum Equity to grow their business.
Currently DispatchTrack supports more than 60 million deliveries a year with the aim of giving the customer a similar end-to-end experience to that they get from Amazon, only without the client using the Amazon logistics and marketplace platforms.
Spectrum Equity is a high profile investor that has supported the growth of a number of businesses including GrubHub and SurveyMonkey. It will receive two board seats at DispatchTrack with the platform’s leadership still running the show.
DispatchTrack was founded in the US Bay Area by a husband and wife team Satish Natarajan (now CEO) and Shailu Satish (now COO) who both worked in tech and identified the need for the platform after seeing how badly existing home delivery services worked for them.
The company now has retail and wholesale customers in a wide range of verticals. It is an all-in-one logistics and delivery toolkit for businesses that are run by non-tech-minded people.
Among its features, DispatchTrack has features for managing routing and planning (including telematics and compliance), customer communication (including reservation systems for delivery slots), driver communication (via a mobile app), billing, social reviews and omnichannel order tracking.
“We are thrilled to partner with Spectrum Equity in this new stage of our growth,” said Natarajan in a statement. “We built DispatchTrack to help businesses large and small provide superior delivery experiences, streamline operations and maintain coordination and transparency across all constituents in the last mile. With Spectrum’s support, we will continue our rapid pace of innovation and be able to bring best-in-class solutions to more businesses, industries and geographies.”
“We look forward to supporting DispatchTrack’s commitment to solving complex problems by building elegant, powerful products that are easy to adopt, configure and scale,” said Vic Parker, MD at Spectrum Equity, in a statement. “The DispatchTrack platform is an exceptionally valuable solution for businesses that recognize the strategic imperative to optimize the delivery experience. We look forward to helping DispatchTrack transform the last mile for more businesses across categories and around the world.” Parker and Spectrum VP Adam Gassin are joining DispatchTrack’s board of directors with this investment.