Fetch Raises $3M to Solve the Package Problem for More Apartment Buildings
Aug 01, 2018, 08:00 ET
DALLAS, Aug. 1, 2018 /PRNewswire/ -- Fetch, the first off-site package solution for apartment buildings, today announced $3 million in Seed funding, led by Silverton Partners. With the financing, Kip McClanahan of Silverton will join Fetch's Board of Directors.
Fetch was founded in 2016 in Dallas, TX, and will now expand across Texas to partner with current clients in Houston and Austin. The capital will also be used to further develop their software platform and enable additional delivery services such as hassle-free package returns and dry cleaning.
"The e-commerce explosion has flooded apartment buildings with packages, and the industry is looking for a way to get out of the package business," said Michael Patton, founder and CEO of Fetch. "The current alternatives are short-term fixes, so we started Fetch to provide a complete and permanent solution to the package problem. The only way to truly solve the problem is provide a high-touch, personalized resident service with exceptional customer service. We handle everything from food to furniture, with no exceptions."
Fetch accepts all packages at local warehouses, then provides scheduled, door-to-door delivery with residents directly. This solves the problem for the property and provides residents with a convenient and time-saving amenity. They've proven to save thousands of dollars in operating expense and significantly increase net income for industry-leading clients, including ZRS and Pinnacle. With Fetch, properties can be package-free in 30 days with no upfront cost.
"We're excited to partner with Fetch because they've proven their value with some of the biggest names in the industry," said McClanahan of Silverton. "They're positioned to be a crucial piece in the everyday life of apartment residents across the country."
Investing alongside Silverton in the Seed round is Capital Factory, an Austin-based accelerator and investor, Venn Ventures, a Dallas-based Seed-stage advisory and investment firm, and Texas-based multifamily real estate owners and managers. Previous investors include Dallas-based Tech Wildcatters and Steve Schaffer, founder of Offers.com.
About Fetch
Fetch solves the package problem for apartment buildings. Fetch partners with large property managers and owners to accept all resident packages at local warehouses and provide scheduled, door-to-door delivery with residents directly. Current clients include many NMHC Top 50 companies, including Lincoln, Pinnacle, ZRS, and Wood Partners. For more, visit www.fetchpackage.com.
About Silverton Partners
From idea to exit, the Silverton team works with exceptional entrepreneurs who are committed to attacking growth markets and building lasting companies. In partnering with Silverton, companies benefit from our deep network and lessons learned over many decades of operating and investing experience. Founded in 2006, Silverton Partners is based in Austin and has been the initial investor behind Convio, WP Engine, SpareFoot, SailPoint, Silicon Labs, TurnKey, The Zebra, AlertMedia, SpyCloud, Convey, Aceable, Big Squid, and Billie among many others. CB Insights has recognized Silverton as the most active venture capital firm in Texas. For more information, visit www.silvertonpartners.com.
SOURCE Fetch
