Last-Mile Delivery Solutions Provider GetSwift Acquired by Stage Fund
Private equity firm Stage Fund, which focuses on special situation investments, has acquired GetSwift and aims to position it for renewed growth.
GetSwift offers three products: a delivery management platform called GetSwift, an eCommerce solution for produce and beverage companies called DeliveryBizPRO, and a staff scheduling and payroll provider called Scheduling+, Stage Fund said in a Tuesday (July 18) press release.
“GetSwift’s innovative technology and strong customer relationships make it an excellent addition to our portfolio,” Stage Fund Managing Partner Krista Morgan said in the release. “We believe that the last-mile delivery market is poised for significant growth.”
GetSwift’s customers include various industries across North America, Europe and Asia, according to the press release.
The company has joined the Stage Fund portfolio that includes companies from the technology, healthcare and logistics sectors, and the private equity firm, the release said.
“GetSwift is excited to continue growing and working toward the same vision for its products under new ownership,” Stage Fund said in the release. “This acquisition will only enhance the quality of service it’s able to offer and expand its influence in key markets.”
This is the most recent of several acquisitions, partnerships and other developments in the last-mile delivery market.
For example, it was reported in June that Amazon is planning to recruit small businesses to boost its last-mile delivery efforts. The program will help create opportunities for delivery partners that are interested in growing a business and supplementing their income, Axios reported June 26.
About three weeks earlier, on June 8, Openforce and Ryder said they have teamed up to offer commercial vehicle rentals to independent contractors at exclusive discounted rates. This offering is meant to meet the needs of contractors who are looking to transition from using sedan-type vehicles for local urban delivery to using sprinter vans and box trucks for last-mile delivery.
In another recent development in the space, Wise Systems said on June 5 that it has added planning and business intelligence tools to its delivery automation technology solutions.
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