Last-minute Logistics Firm, Homer Logistics Raises $8.5 Million in Series A Funding

posted on 28th June 2017 by Nenad N

Homer Logistics, a delivery start-up that aims at combining local, final mile delivery with ‘advanced logistics technology’ and a dedicated fleet of delivery couriers has acquired Series A funding reaching $8.5 million.

The Series A funding, led by Two Sigma Ventures with Lerer Hippeau Ventures, RSE Ventures and Laconia Capital Group also investing significantly into the start-up.

The investment is said to ‘expand [Homer’s] research capabilities and technical team to further improve its ability to drive operational efficiency for its customers.’

In a release, it was stated: “The local delivery service industry is in serious need of a delivery partner that prioritizes efficiency over scale. Using a controlled workforce, properly scheduling and forecasting supply and demand, and optimizing real time order dispatching is how local delivery becomes economically viable and sustainable,” said Adam Price, CEO of Homer Logistics.

“Homer provides a sustainable, economical solution for local delivery and dramatically changes the way goods are transported in these environments, especially as more and more disparate connection platforms drive orders to local merchants.”

“Two Sigma Ventures invests in startups utilizing computer science, math and statistics to meaningfully change the way their industries operate,” said Colin Beirne, Two Sigma Ventures Managing Director. “Unlike existing courier services, Homer Logistics utilizes this expertise to develop technology that enables them to make more intelligent decisions and puts them at the forefront of mathematically solving final mile logistics.”

Furthermore, Homer detailed previous funding by remarking “Homer Logistics has raised a total of $14.5 million in funding since 2015 to support its growing business platform, and partners with local merchants, ranging from mom-and-pop shops to national brands. The company manages all delivery operations in Manhattan and licenses its logistics platform to EatStreet, a restaurant delivery provider, in ten other U.S. markets.”