- Companies
- Roadie
Roadie Acquisition, Valuation, Funding & Investors
Roadie was acquired by UPS for $590M in September 2021.
Cumulative funding Roadie raised
$62M
across 3 funding rounds
Key investors in Roadie
TomorrowVentures
QuarterMoore
Warren Stephens
Eric Schmidt
UPS
Home Depot
Stephens
UPS Capital
About Roadie
Roadie is an Atlanta-based on-demand delivery network crowdsourcing capacity from passenger vehicles. Launched in 2015 and acquired by UPS in 2022, the company connects shippers with drivers heading the same way for items of any size. Roadie handles last-mile logistics for retailers like Home Depot and Walmart, offering app-based booking, roadside assistance, and mileage rewards.
Founded
2014
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Commission
Valuation
$590M (acquired Sep 2021)
Roadie Acquisition
Roadie was acquired by UPS for $590M on 10 September 2021.
Before the acquisition Roadie had raised $62M across 3 funding rounds.
Roadie is a technology platform enabling local same-day delivery services across the U.S., specializing in shipments like bulky, perishable goods, or items in shopping bags incompatible with traditional parcel networks. It connects merchants and consumers with contract drivers via a crowdsourced, on-demand model. UPS announced the acquisition agreement on September 10, 2021, to enhance its customer-first strategy by addressing demand for same-day delivery of non-traditional packages. The deal closed on October 1, 2021, with Roadie operating as an independent, wholly-owned subsidiary under its own name. Post-acquisition, Roadie's technology integrates with UPS's portfolio to create new growth opportunities, including improved small package capabilities and differentiated last-mile offerings like 2-hour critical, big and bulky, and cold-chain deliveries, without merging networks or drivers. This acquisition positions UPS as the first major parcel carrier with a crowdsourced delivery network, leveraging Roadie's Atlanta-based innovation team and nationwide operations serving a diverse customer base.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 10 Sep 2021 | Strategic M&A | $590M |
Roadie Funding History
Roadie has raised a total of $62M across 3 funding rounds.
Roadie's first fundraising round was a $10M Series A in January 2015. The most recent completed round was a $37M Series C in February 2019.
Roadie funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2019 | Series C | Home Depot (lead); Warren Stephens; Eric Schmidt; QuarterMoore | $37M | Roadie is an Atlanta-based on-demand, crowdsourced delivery startup that operates a mobile app connecting users needing to ship items like furniture, appliances, and pets with a network of over 120,000 drivers heading in the same direction. The platform enables scheduled, same-day, and urgent deliveries, reaching 89% of U.S. households across 11,000 cities and towns, surpassing Amazon Prime's footprint in some metrics. Key partnerships include The Home Depot for faster deliveries to smaller cities, Delta Air Lines, and Walmart to support enterprise same-day delivery needs. On February 25, 2019, Roadie announced a $37 million oversubscribed Series C funding round led by The Home Depot, with participation from Warren Stephens and Eric Schmidt's TomorrowVentures (also referred to as QuarterMoore in some contexts). This brought Roadie's total funding to $62 million, following prior rounds including a $15 million Series B in 2016 backed by UPS Strategic Enterprise Fund and others, and a $10 million round in 2015. The investors aimed to leverage Roadie's technology against competitors like Amazon in the same-day delivery space. The fresh capital was earmarked for enhancing delivery routing technology, expanding into remote areas, improving data science for dynamic driver matching, and advancing machine learning for real-time supply-demand predictions and pricing models. Roadie, founded in 2015, had 61 employees at the time and planned to grow its engineering, data science, sales, and operations teams. The Home Depot highlighted Roadie as key to achieving same-day or next-day delivery for 90% of U.S. customers, emphasizing efficient supply chain improvements. |
| Jun 2016 | Series B | Stephens (lead); UPS Capital; TomorrowVentures; QuarterMoore | $15M | Roadie is an Atlanta-based on-demand delivery startup that leverages unused capacity in passenger vehicles for crowdsourced deliveries of items like patio furniture or pets. The company launched its Series B funding round on June 14, 2016, raising $15 million led by Warren Stephens and the UPS Strategic Enterprise Fund, with participation from existing and new investors. Funds were allocated to enhance and expand the on-the-way delivery network, broaden partnerships, build new distribution channels, and ramp up demand generation efforts including hiring a chief marketing officer. Roadie had previously secured $10 million in Series A funding from investors including UPS Strategic Enterprise Fund, TomorrowVentures, Warren Stephens, and others. The Series B built on partnerships like UPS providing $10,000 coverage per package. The platform aimed to transform logistics by matching delivery demand with drivers heading in the same direction. Following the Series B, Roadie raised a $37 million Series C round from The Home Depot, Warren Stephens, and TomorrowVentures, bringing total funding to $62 million at that point. The company focused on improving delivery routing technology and expanding into remote areas while employing over 60 people in Atlanta. |
| Jan 2015 | Series A | TomorrowVentures (lead); Warren Stephens; UPS | $10M | Roadie is an app-based courier service that connects people needing to ship items with drivers already heading in that direction, utilizing excess capacity in passenger vehicles for same-day, on-the-way deliveries. The platform enables users to get cost estimates via its app for parcels with protection up to $10,000 through UPS Capital, targeting oversized, heavy, or awkward items to save time and money compared to traditional shipping. Roadie launched in January 2015 with a $10 million Series A funding round led by Warren Stephens of Stephens Inc., including participation from UPS Strategic Enterprise Fund, Eric Schmidt’s TomorrowVentures, Guggenheim Partners’ Executive Chairman Alan Schwartz, Square co-founder Jim McKelvey, the Mellon Group, former ISS CEO Tom Noonan, and others. The funding supported the initial launch and operations of Roadie’s mobile app, which operates like Uber for local deliveries with fees from $8 to $150 based on mileage and urgency. Investors highlighted Roadie’s potential in the sharing economy to disrupt logistics by tapping into existing vehicle capacity. |
Who has invested in Roadie?
8 investors have backed Roadie across its funding rounds, including TomorrowVentures, QuarterMoore, Warren Stephens, Eric Schmidt, UPS and Home Depot.
Lead investors include Home Depot, Stephens and TomorrowVentures.
Roadie Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Jan 2015 | ||
| 2 | Participant | Jan 2015 | ||
| 2 | Participant | Jun 2016 | ||
| 1 | Lead | Jun 2016 | ||
| 1 | Participant | Jun 2016 | ||
| 1 | Lead | Feb 2019 | ||
This data is available for Pro users. Sign up to see all 8 Roadie investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialRoadie Competitors
Roadie competitors include listed companies like Ryde Group and SUPA Consolidated, and private ones like Banma Kuaipao, Everest Fleet, GO and Scoop.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $725M | - | ||
| Private | $107M | - | $425M | 4.0x | ||
| Private | - | - | $985M | - | ||
| Private | - | - | $250M | - | ||
| Publicly listed | $10M | ($13M) | $126M | - | ||
| Publicly listed | - | ($233K) | $16M | - |
Roadie Public Comps
Roadie is no longer listed, but its public comps include Gür-Sel Turizm, Verra Mobility, Universal Logistics Holdings, Tegma, Kerry TJ Logistics, TRAXIÓN, Kelsian Group, Saudi Automotive Services, SAPTCO and BiNBiN.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $171M | $54M | 3.2x | - | 10.3x | - | |||
| $979M | $374M | 1.6x | 1.6x | 4.2x | 4.0x | |||
| $1.6B | $84M | 0.8x | 0.8x | 15.4x | 6.6x | |||
| $433M | $83M | 1.1x | 1.1x | 5.7x | 6.1x | |||
| $403M | $95M | 1.6x | - | 6.8x | - | |||
| $2B | $309M | 0.6x | 0.6x | 4.0x | 4.1x | |||
| $1.6B | $197M | 0.9x | 0.8x | 7.1x | 6.2x | |||
| $3.1B | $186M | 0.7x | 0.6x | 11.1x | 12.4x | |||
This data is available for Pro users. Sign up to see all Roadie competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Roadie
| When was Roadie founded? | Roadie was founded in 2014. |
| Where is Roadie headquartered? | Roadie is headquartered in Atlanta, GA, United States. |
| Is Roadie publicly listed? | No, Roadie was acquired by UPS in September 2021. |
| Who acquired Roadie? | Roadie was acquired by UPS in September 2021. |
| How much was Roadie acquired for? | Roadie was acquired for $590M in September 2021. |
| How much funding has Roadie raised? | Roadie has raised $62M across 3 funding rounds. |
| What was Roadie's last funding round? | Roadie's last funding round was a $37M Series C in February 2019, led by Home Depot. |
| Who are Roadie's investors? | Roadie's investors include TomorrowVentures, Warren Stephens, QuarterMoore, Stephens, UPS Capital, Home Depot, Eric Schmidt and UPS. |
| Which companies are comparable to Roadie? | Companies comparable to Roadie include Banma Kuaipao, Everest Fleet, GO, Scoop, Ryde Group and SUPA Consolidated. |
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