FarEye raises 100 million USD in series E funding

May 25th, 2021, Chicago: FarEye, a leading end-to-end, global delivery management platform, has announced a USD 100 million Series E round led by TCV and Dragoneer Investment Group. Existing investors Eight Roads Ventures, Fundamentum and Honeywell also participated in the round. The funds will be used to accelerate the company’s mission of empowering brands to provide Amazon Prime-like delivery experiences and redefining how products are delivered across diverse logistics networks. FarEye will further focus on expanding its software platform capabilities, drive European and North American expansion, and continue to attract world-class talent. As part of the transaction, Gopi Vaddi, General Partner at TCV, will join FarEye’s board of directors.

Founded in the year 2013 by Kushal Nahata, Gaurav Srivastava, & Gautam Kumar, FarEye is addressing a multi billion dollar delivery management market that continues to show double digit year on year growth.

FarEye’s intelligent & sophisticated platform is used by brands to launch and champion multiple delivery models like same-day, next-day, on-demand, and curbside from multiple inventory locations. More specifically, FarEye enables enterprise clients to:

• Manage the end-to-end process of delivering goods or services to consumer and enterprise customers across both 3rd party and in-house fleet models
• Provide end-customers with a positive delivery experience, all while significantly lowering logistics costs and giving unparalleled visibility and control across the entire process
• Leverage a highly modular, cloud-native and low-code platform, which allows clients to build individualized workflows to suit their unique delivery requirements while ensuring the fastest time to value
• Handle enterprise-scale volumes and compliance requirements

FarEye currently serves global enterprises across retailers, manufacturers and third-party logistics providers & carriers, including DHL ecommerce, Amway, Dominos, Walmart, Posti, Gordon Foods, UPS and more.

The company’s platform processes over 100 million transactions each month, supports more than 25,000 drivers and is integrated into a network of over two million vehicles. FarEye’s growth has accelerated over the last 12 months with particularly strong traction in Europe and North America. These markets comprise over half of the revenues and have grown nearly three times in the same period.

FarEye was recently recognized by Gartner in their inaugural Magic Quadrant for Real-Time Transportation Visibility Platforms.

To support continued expansion, FarEye has also hired a number of senior executives over the last year including a new CRO, Amit Bagga (formerly President of APAC at BlueYonder and strategic sales leader at Oracle), and a new CPO, Suvrat Joshi (former executive at Dropbox, Amazon, Facebook, Microsoft).

About TCV
Founded in 1995, TCV was established with a clear vision: to capture opportunities in the technology market through a specialized and consistent focus on investing in high-growth companies. Since inception, the firm has built a track record of successfully backing public and private businesses that have developed into dominant industry players across internet, software, FinTech, and enterprise IT. TCV has invested over $14 billion to date and has helped guide CEOs through more than 125 IPOs and strategic acquisitions. TCV has invested in cutting edge technology companies including Airbnb, Brex, ByteDance, Facebook, Netflix, Peloton, Spotify, Zillow, Clio, Klarna, Mollie, Nubank, Payoneer, RELEX Solutions, Revolut, Spryker, Toast, Wealthsimple and WorldRemit. TCV has successfully executed over 350 investments of varying structures, including mid-stage, late stage and public company investments, and has offices in Menlo Park, New York, and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com/.