Fast-growing Fetch, a last-mile package delivery solution for apartment communities, has raised $10.5 million Series A funding in a round led by Signal Peak Ventures.
Michael Patton
The newest round brings Fetch’s total to-date to $14 million, after it raised $3 million in a 2018 seed round. Also participating in the round were Silverton Partners and Capital Factory, which has a Dallas location.
The funding is intended to back a national expansion.
Fetch was founded in Dallas in 2016 but moved its headquarters to Austin last year. Since, it has expanded its services beyond Dallas-Fort Worth and Austin to Houston, San Antonio, Seattle, Denver, Atlanta, Orlando, Tampa, Chicago, and Phoenix. Washington, D.C. and Portland, Oregon, are scheduled to come online this year.
“Since our seed round last summer, we’ve grown from 6 employees to 140, and increased sales by over 1000%,” founder and CEO Michael Patton says in a statement. “We’ve struck a chord in solving the package problem for the industry through exceptional customer service and consistent, reliable execution.”
Scott Petty of Signal Peak Ventures
Fetch accepts all deliveries at local Fetch-operated warehouses, then provides scheduled, door-to-door delivery with residents directly.
“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,” Signal Peak Ventures Managing Director Scott Petty says in a statement. Petty will join Fetch’s board of directors.
“The e-commerce explosion has flooded apartment buildings with packages, and the industry is looking for a way to get out of the package business,” Patton said last year after the seed funding round. “The current alternatives are short-term fixes, so we started Fetch to provide a complete and permanent solution to the package problem. The only way to truly solve the problem is provide a high-touch, personalized resident service with exceptional customer service.”
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