Dropoff Raises $7.0 Million Series A Funding for Rapid Market Expansion of Same-Day Delivery for Businesses

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Financing round led by prominent venture capital firm Greycroft Partners.

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This funding demonstrates how customers value and recognize what we are building – a transformative same-day logistics solution for businesses.

Dropoff, 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.

“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,” said Sean Spector, CEO and co-founder of Dropoff. “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.

“Dropoff has shown great traction and we are impressed with their vision for the future of same-day delivery for enterprise customers,” said Paul Bricault, Venture Partner at Greycroft Partners. “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.”

The Dropoff offering includes:
●    Simple and easy ordering via the Web and mobile devices
●    Transparent, up-front pricing with flexible delivery options
●    Up-to-the-minute ETAs
●    Real-time tracking and confirmations, including digital signature verification
●    Ability to schedule pickups and deliveries up to 60 days in advance
●    Creation of recurring and non-recurring routes
●    Thorough background screening and HIPAA certification of all delivery Agents
●    Delivery Agent ratings and reviews for quality assurance
●    Significant customer protection (cargo, crime and liability insurance)
●    Easy-to-use API for seamless supply-chain platform integration


About Dropoff
Dropoff solves same-day delivery challenges for business by offering a superior experience built on convenience, reliability and unmatched service, all powered by a proprietary technology platform. Dropoff provides easy web and mobile ordering, flexible delivery options, transparent pricing, real-time tracking and confirmations, up-to-the-minute ETAs, delivery Agent ratings and a feature-rich API for seamless logistics platform integration. Dropoff helps businesses with their complex same-day delivery logistics needs, so they can better, and more efficiently, serve their own customers. For a list of markets where Dropoff is available and for additional information, visit http://www.dropoff.com or call (844) 4-DROPOFF.

About Greycroft Partners
Greycroft Partners is a leading venture capital firm focused on investments in the Internet and mobile markets. With offices in the two media capitals of the world – New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, successfully bring their products to market, and build successful businesses. Greycroft manages $600 million and has made over 100 investments since its inception, including in leading companies such as App Annie, BaublebBaeer, Braintree, Buddy Media, Collective, Extreme Reach, Huffington Post, JW Player, Klout, Maker Studios, Plain Vanilla, Pulse, TheRealReal, Trunk Club, and WideOrbit. For more information please visit the Greycroft Partners website at http://www.greycroft.com

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