Route, a Lehi, UT-based post-purchase package tracking and protection solution provider, raised $40m in Series C funding round at a $1.4 billion valuation.
The round was led by Hanaco VC with participation from JAWS Ventures, Madrona Ventures, and Granger.
Led by Michael Yamartino, CEO, Route is a leader in the post-purchase experience. From delivery to re-discovery, the company protects brands and their customers with licensed shipping insurance, fast issue resolution, package tracking, carbon neutral shipping, and remarketing. The company empowers more than 13,000 brands, including Alice + Olivia, BlendJet, Cult Gaia, Tom Ford, Daily Drills, LoveShackFancy, Solo Stove, and Wellbel, to offer experiences like shipment tracking, package protection and carbon offsetting that engage and delight customers long after an online purchase is made.
Route achieved $100m in revenue in 2023, and is on a clear path to profitability. Additionally, in June 2024, the company surpassed $15 billion in protected merchandise, underscoring the ecommerce unicorn’s market position and traction with retailers and their customers.
FinSMEs
25/06/2024