Parcel delivery giant UPS has invested in crowdsourced, same-day delivery company Deliv.
The investment, made through the UPS Strategic Enterprise Fund, is part of a $28 million funding round also including Upfront Ventures, RPM Ventures, PivotNorth Capital, General Growth Properties, The Macerich Company, Simon Venture Group, Taubman Centers, Inc. and Westfield Corp.
The funds will be devoted to product development and national expansion.
Deliv coordinates same-day delivery for more than 4,000 businesses including Macy’s, Best Buy, Kohl’s and Walgreens. It is available in more than 100 cities across 17 markets.
“Deliv has gained a strong position in the same-day delivery market by offering a unique solution that serves some of the largest retailers in the U.S.,” UPS Vice President Alan Gershenhorn said. “Our Strategic Enterprise Fund continues to invest in companies that have innovative business models, and we look forward to gaining further insights into the market dynamics of same-day delivery.”
“We are thrilled with this strong vote of confidence from the UPS Strategic Enterprise Fund and our existing investors,” said Daphne Carmeli, founder and CEO of Deliv. “This round of investment will allow us to rapidly scale and further advance our position in the fast growing, multibillion dollar same-day delivery market.”