ADDISON, Texas--(BUSINESS WIRE)--PICKUP™, the on demand delivery service featuring good guys and their pickup trucks, today announced that Perot Jain, LP, Wetzer Capital, and some key Dallas-based investors have made strategic investments in the Company.
“PICKUP is exactly the type of company our investment firm was created to support,” said Ross Perot, Jr, Partner, Perot Jain, LP. “We look for emerging and high-potential technology-based companies that we can partner with and add value. PICKUP combines a transformative business model with innovative technology which made it a very attractive investment opportunity. We look forward to a long and successful partnership with Brenda and her team.”
“While we hear many great ideas pitched to us, rarely do we see this degree of alignment where the idea is brilliant, the entrepreneurial team this strong and the timing perfect,” said Mike Wetzer, founder of Wetzer Capital. “We are equally delighted to be joining Perot Jain, LP in this round as their investment goals and ours are well aligned to grow PICKUP into a highly successful brand over the long term.”
The latest round of funding will be used to continue development of PICKUP’s technology platform, expand the service regionally, and enable management to increase its talent pool.
“As an early-stage company, the largest challenge we face is finding the right investment partners at the right time,” said Brenda Stoner, CEO and Chief Good Guy, PICKUP LLC. “Our guiding principal is to be white hat in all we do. To have investors who also live by this business philosophy is the best outcome we can imagine. These investors provide PICKUP with additional credibility and resources needed to expand confidently.”
“The investments we make are not just in the idea or the technology, but equally in the entrepreneur. When we find a company like PICKUP, with a passionate entrepreneur and a great business model, and combine that with investors who are committed to helping build world-class companies in a very smart and efficient manner, it’s a win-win,” said Anurag Jain, Partner, Perot Jain, LP.
“We are in it for the long term,” said Joe Beard, Partner, Perot Jain, LP. “Being a seed investor, we are not looking for an immediate exit or to just invest and sit on the sidelines. We want to be value-added partners and actively engage and support our portfolio companies. We are passionate about companies that take a disruptive approach to conventional thinking and PICKUP fits that mold.”
PICKUP helps people transport items that are too big to fit in their car or SUV. Their drivers include off-duty firefighters, military veterans and other good guys who are required to go through extensive qualification and background checks. Customers’ goods are insured for up to $20,000. The service can be ordered online or via the app available on iTunes or Google Play.
Previously PICKUP announced they had raised $600,000 in seed funding in June 2015. The amount of funding secured from the strategic investors in this round is undisclosed.
About Perot Jain, LP
Perot Jain, LP is an early stage venture capital firm founded by Ross Perot, Jr. and Anurag Jain. The firm is committed to partnering with innovative entrepreneurs to build highly disruptive, industry transforming companies. The leadership team combines deep operational expertise within the technology sector along with extensive strategic advisory experience to deliver unparalleled value to its investment portfolio. Perot Jain, LP is based in Dallas, TX, and is actively seeking investments across the information technology, mobile, peer to peer and healthcare sectors. For more information, contact email@example.com.
About PICKUP LLC
PICKUP™ is an on demand service featuring good guy drivers and their pickup trucks. No more renting trucks for moving or hauling large items, or asking to borrow a friend's pickup truck. PICKUP™ brings this experience directly to your mobile device. PICKUP™ drivers are trust verified and insured for up to $20,000. The drivers are off-duty firemen, military and veterans who are considered “good guys” that people would recommend. The company was founded in 2014 and is based in Dallas. For more information please visit www.pickupnow.com or follow us on Twitter or Facebook.