Homer Logistics Raises $8.5 Million in Series A Funding to Enhance "Final Mile" Delivery Efficiencies
NEW YORK, June 26, 2017 /PRNewswire/ -- Homer Logistics, a startup specializing in optimizing local, final mile delivery using advanced logistics technology, today announced it has raised $8.5 million in Series A funding, led by Two Sigma Ventures with Lerer Hippeau Ventures, RSE Ventures, and Laconia Capital Group participating among others. Homer Logistics will use the financing to expand its research capabilities and technical team to further improve its ability to drive operational efficiencies for its customers.
Homer Logistics provides a local delivery solution for businesses through the combination of logistics technology and a fully employed fleet of delivery couriers. The company's team of data scientists, operations research scientists, and engineers create software that better predicts and understands delivery patterns. This enables Homer Logistics to both schedule employees in accordance with delivery demand and optimize real-time, automated dispatching; ultimately, bringing economic efficiency to final mile deliveries without sacrificing speedy delivery time or delivery quality.
"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."
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.
"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."
About Homer Logistics
Homer Logistics provides a local delivery fulfillment solution for businesses through the combination of logistics technology and a fully employed fleet of delivery couriers. Our delivery solution enables businesses to outsource delivery operations and specialize on their core competency. Homer specializes in creating software that better predicts and understands delivery patterns, enabling us to both schedule employees in accordance with delivery demand and optimize real-time, automated dispatching; ultimately, bringing economic efficiency to final mile deliveries while maintaining the highest levels of customer service. For more information, please visit homerlogistics.com.
About Two Sigma Ventures
Two Sigma Ventures invests patient financial capital and expert human capital in ambitious early-stage entrepreneurs leveraging data science and engineering to create the future. Through our partnership with Two Sigma Investments, we provide entrepreneurs access to a proprietary network of experts and startup resources to give them a competitive edge. For more information, please visit twosigmaventures.com.
CONTACT: Siobhan Nolan, [email protected]
SOURCE Homer Logistics
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