Fetch Package, a last-mile package delivery service aimed at apartment dwellers, announced recently that it has raised a $10.5 million round of funding.
Signal Peak Ventures led the Series A financing round with participation from previous investors including Silverton Partners and Capital Factory. To date, the company has raised $14 million.
Fetch, founded in 2016 in Dallas, has recently expanded nationwide. It currently operates in Dallas, Fort Worth, Houston, Austin, San Antonio, Seattle, Denver, Atlanta, Orlando, Tampa, Chicago, and Phoenix. It plans to begin service in Charlotte, DC, and Portland this year.
“I’m incredibly proud of the entire Fetch team for the progress we’ve made in the last 3 years,” Founder & CEO Michael Patton said in a news release. “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 deliveries to its warehouse and then delivers the packages directly to apartment residents at a convenient time.
“We’re excited to partner with Fetch at a true inflection point of expansive growth,” Scott Petty of Signal Peak Ventures, said in a news release. “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,” Kip McClanahan of Silverton Partners said in a news release. “They’ve assembled a great team with deep multifamily experience and logistics expertise which will serve them well as Fetch scales nationally.”
Fetch’s national customers include Pinnacle, Wood Partners, Alliance Residential, Lincoln Property Company, ZRS, Waterton and many other NMHC Top 50 firms.
