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02/25/2019

The Home Depot invests in same-day delivery service

A start-up service that leverages unused passenger vehicle capacity for same-day deliveries has received funding from a retail giant.

Roadie has raised a $37 million oversubscribed Series C funding round with investments from The Home Depot, as well as Warren Stephens and Eric Schmidt’s TomorrowVentures, among others. This round brings the total funding raised to date to $62 million.

Roadie, which operates in 224 metropolitan statistical areas across the country, uses an “on the way” delivery model that places deliveries in passenger vehicles already heading in that direction. Roadie leverages dynamic routing and pricing models and machine learning to predict capacity and match deliveries to its drivers based on real-time supply and demand.

Launched in 2015, Roadie now has over 120,000 drivers and says it can same-day deliver anything up to 100 miles around every major city in America. In January 2019, Roadie became a Walmart online grocery delivery partner.

“The Home Depot is committed to building the fastest, most efficient supply chain in home improvement, and our customers have made it clear that same-day or next-day deliveries to their homes and jobsites are a critical part of that,” said Mark Holifield, executive VP, The Home Depot Supply Chain. “We’re investing to bring this level of service to 90% of the US population, and Roadie is a key partner for us in making this reality."