Dropoff Raises $7M During Series A Funding Round For Rapid Market Expansion of Same-Day Delivery For Businesses

Dropoff 2Dropoff, Inc., the company dedicated to reinventing on-demand, same-day delivery logistics for businesses, today announced that it has closed $7.0 Million in Series A funding. The investment was led by Greycroft Partners, with participation from new and existing investors, including Correlation Ventures, Texas Atlantic Capital, and Wild Basin Investments. The new funding will help drive Dropoff’s rollout into multiple new markets beyond its current locations in Austin and Houston.

Sean Spector, CEO and co-founder of Dropoff, stated:

Sean Spector“This funding demonstrates how customers value and recognize what we are building – a transformative same-day logistics solution for businesses. We are focused on providing our customers with convenience, reliability and consistent service across multiple locations. We’ve had success in our first markets, Austin and Houston, and look forward to bringing the Dropoff experience to more cities. I’m excited to have our new and returning investor partners on board for Dropoff’s next stage of growth.”

Since launch in November 2014, Dropoff has made tens of thousands of deliveries for hundreds of business customers becoming an integral part of their daily supply chain activities. With a deep emphasis on the overall customer experience, Dropoff has attained an extremely high +87 Net Promoter Score – evidence that the service is exceeding expectations.

Paul Bricault, Venture Partner at Greycroft Partners, added:

Paul Bricault“Dropoff has shown great traction and we are impressed with their vision for the future of same-day delivery for enterprise customers. The on-demand economy continues to grow and Dropoff is well-positioned to serve the same-day delivery needs of both traditional industries and the fast-growing new categories of healthcare, food & grocery, and retail & e-commerce.”

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