Pandion Raises $41.5 Million to Expand Residential Parcel Delivery Network
Pandion has raised $41.5 million in a Series B funding round to expand its residential parcel delivery network designed for eCommerce.
The company will use the new funding to build new technology offerings, expand its geographic reach and increase its delivery speed, Pandion said in a Tuesday (March 19) press release.
Pandion founder and CEO Scott Ruffin has more than 25 years of experience in logistics, having played a leading role in building Amazon’s sortation center network and carrier diversification strategy, founded and led Amazon Air and served as head of Walmart’s eCommerce transportation division, according to the release.
“Companies can no longer rely on just the national parcel carriers, but they also don’t have the capabilities and resources to build their own parcel delivery capability or a diversified network of national and regional carriers,” Ruffin said in the release. “They need an alternative. That’s where Pandion comes in.”
Pandion picks up packages at brands’ fulfillment centers, sorts them and delivers them through its network of more than 500,000 final-mile drivers, according to the release.
The company can currently deliver to 80% of homes in the U.S., and it has the capacity to deliver millions of packages, the release said.
Pandion’s latest funding round was led by Revolution Growth, per the release. As part of the funding, Kristin Gunther, partner at Revolution Growth, will join the delivery company’s board of directors.
Gunther said in the release that Pandion offers “a more flexible and responsive shipping network” at a time when retailers are diversifying their carrier portfolios and facing challenges around consumer demand, driver shortages and rising costs.
“The company makes an Amazon-like model accessible to retailers that are looking to improve their logistics agility,” Gunther said.
In another recent development in this space, delivery platform Deliveright and website building platform Wix said in February that they have teamed up to simplify the shipping of heavy goods for Wix merchants.
In October 2023, delivery management platform Bringg debuted a tool to streamline last-mile delivery. The company’s Road offering helps businesses manage internal fleets, increase delivery options, automate processes and speed up last-mile operations.
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