Onfleet

Last updated
Onfleet
Type Private
Founded2012;11 years ago (2012) in San Francisco, U.S. [1] [2]
Founders
  • David Vetrano
  • Mikel Carmenes Cavia
  • Khaled Naim [1] [2]
Headquarters San Francisco,
U.S.
Area served
Worldwide [3] [4]
Key people
  • Khaled Naim
    (CEO) [5]
  • Scott Cross
    (CFO) [5]
Number of employees
88 (2021) [6]
Website www.onfleet.com

Onfleet is a San Francisco-based delivery software company, specializing in last mile delivery. [1] Its customers include Sweetgreen, [7] Kroger [8] [9] and Total Wine & More. [10]

A number of publications, including Inc. magazine and TechCrunch, have called the company "Uber for delivery". [1] [11]

Software designed by the company allows a retailer to communicate with delivery drivers while providing services such as optimizing routes and allowing customers to track deliveries. [1] [4]

The company provides software as a service for delivery businesses, charging a monthly fee for using their software. [2] A small number of deliveries are free, and the company's largest clients perform over 100,000 deliveries a month. [1] [11]

Onfleet also helps businesses outsource delivery couriers, using the platform as a collaboration tool. [12]

Onfleet has clients in over 50 countries. [3] [4] As of 2020, 75% of the company's business is done in North America. [9]

History

The company was founded in 2012 by group of Stanford University students: David Vetrano, Mikel Carmenes Cavia and Khaled Naim. [1] [2] In April 2015, they received $2 million of funding from a number of angel investors, including Stanford University's own business accelerator program StartX. [1] [11]

The idea of the company evolved from Addy, a simple address resolution app created by Khaled Naim that was intended to simplify navigation in the cities of the Middle East, where, according to him, addresses "are either nonexistent or very difficult to communicate." The app allowed a short link to be passed to the addressee that opened a map showing the route to the destination, and notes about the route. [13] [1] In January 2014, the app was used in over 25 countries. [1]

In 2019, it was named 124th of "most successful companies" in a list compiled by Inc. magazine. [14] [15] The San Francisco Business Times named it 13th in its list of 100 fastest growing businesses of San Francisco. [14]

With the onset of COVID-19 pandemic, the company offered its platform for free to pandemic first responders, including those delivering lab samples, medicines and medical equipment. [16] [17] The company also started offering contact-less delivery. [18] [2] In the first weeks of April 2020, the number of deliveries increased 35% compared to the previous month, to over 100,000 deliveries per day. [2] The profits have also grown due to legalization of cannabis in a number of US states; since the onset of the pandemic, the number of alcohol and cannabis related deliveries increased fourfold. [19]

The company received $14 million from the investors Aat the end of 2020, in Series A round of funding, [9] [20] [21] [19] and $23 million in Series B round of funding in June 2022. [7] [22]

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References

  1. 1 2 3 4 5 6 7 8 9 10 Will Yakowicz (2015-05-13). "How a Company You've Never Heard of Is Rapidly Becoming the Uber of Delivery". Inc.
  2. 1 2 3 4 5 6 Dawn Kawamoto (2020-04-27). "Small Business, Big Mission: Logistics firm Onfleet keeps on trucking as deliveries surge during crisis". San Francisco Business Times.
  3. 1 2 "Onfleet platform manages last mile delivery operations for companies in 50 countries". American Journal of Transportation. 2017-04-06. ISSN   2637-6172.
  4. 1 2 3 Haylle Sok (2017-04-06). "Onfleet Going International". Global Trade.
  5. 1 2 "Onfleet welcomes Cross as Chief Financial Officer". American Journal of Transportation. 2020-12-08. ISSN   2637-6172.
  6. ↑ "Onfleet". Craft.co.
  7. 1 2 Kyle Wiggers (2022-06-07). "Onfleet nabs $23M to further develop its last-mile delivery software". TechCrunch.
  8. ↑ Bridget Goldschmidt (2021-06-29). "Onfleet Marks 100M Deliveries and Considerable Company Growth". Progressive Grocer.
  9. 1 2 3 Todd Johnson (2020-10-30). "How Covid-19 fueled $14 million in funding for this San Francisco startup". San Francisco Business Times.
  10. ↑ "Onfleet Pursues Growth With New Funding". Multichannel Merchant. 2022-06-07. Retrieved 2022-11-18.
  11. 1 2 3 Megan Rose Dickey (2016-01-30). "Onfleet Has Powered Over 1 Million On-Demand Deliveries". TechCrunch.
  12. ↑ PYMNTS (2022-06-07). "Last-Mile Delivery Firm Onfleet Raises $23M". www.pymnts.com. Retrieved 2022-11-18.
  13. ↑ Rebecca Grant (2013-09-23). "Addy unveils app to bring street addresses into digital age". Reuters.
  14. 1 2 "Software Company Onfleet Ranked #13 on San Francisco Business Times 'Fast 100' List of the Fastest-Growing Private Companies". Bloomberg. 2019-10-21.
  15. ↑ "Tech startup Onfleet makes 2019 Inc. 5000 – Inc. magazine's list of America's fastest-growing private companies". American Journal of Transportation. 2019-08-15. ISSN   2637-6172.
  16. ↑ "Last-mile tech firm Onfleet raises $14M as interest surges in delivery services". СStoreDecisions. 2020-04-09.
  17. ↑ Natasha Mascarenhas (2020-04-19). "Tech for good during COVID-19: Children's book, phone booths, and aperitifs". TechCrunch.
  18. ↑ "Onfleet doing its part to help delivery during pandemic". The Produce News. 2020-04-17.
  19. 1 2 Will Yakowicz (2020-12-23). "Legal Cannabis Delivery Companies Thrive Amid Pandemic By Co-Opting Illicit Dealers' Business Model". Forbes .
  20. ↑ Shannen Balogh (2020-12-01). "Check out the 25-slide pitch deck a startup that manages deliveries for companies like Kroger and Sweetgreen used to nab a $14 million Series A". Business Insider.
  21. ↑ "Onfleet raises $14 million to help companies meet unprecedented need for fast, reliable last mile delivery". American Journal of Transportation. 2020-10-30. ISSN   2637-6172.
  22. ↑ Jack Daleo (2022-06-07). "Onfleet raises $23M to grow last-mile software platform". Modern Shipper.
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