ORLANDO, Fla.--(BUSINESS WIRE)--OneRail, a leading final mile delivery fulfillment SaaS platform, announced today that the company has closed a $9 million Series A investment led by Ironspring Ventures, an early stage venture capital fund focused on investing in digital industrial supply chain innovation.
“Final mile logistics has only become more critical to shippers as they face even further enhanced E-Commerce customer experience expectations. OneRail’s 10 times year-over-year revenue growth with major Fortune 500 customers is indicative of how well this team has executed to establish clear product market fit,” said Ironspring Ventures Managing Partner Ty Findley. Findley will be joining the OneRail Board of Directors.
OneRail solves final mile delivery logistics more comprehensively than any other offering in the space, with a 3-in-1 approach firmly establishing them as the top-tier solution for Retailers, Healthcare Networks and Product Distributors, as well as the Construction and Materials ecosystem. Between an unparalleled national courier network of 7.5 million drivers across 200 major U.S. cities, an API-driven smart-matching delivery operating system and a 24/7/365 exceptions management team — known as Exceptions Assist™ — OneRail combines best-in-class technology with the critical human element. The platform’s on-time delivery rate is 98.6 percent, and its exceptions rate is virtually zero.
“We are very thankful for the show of faith that Ironspring Ventures and our valued investors have placed in us as we continue to execute upon our vision of transforming final mile logistics,” said OneRail Founder & CEO Bill Catania. “This next chapter is all about scale — and the infrastructure needed to execute a true omnichannel strategy.”
With the additional capital, OneRail plans to further accelerate the digital transformation of our customers’ supply chains, providing even more competitive advantage in the marketplace.
The past 18 months have been a hypergrowth story for the Orlando-based company, closing out $21.5 million in financing, growing its team from nine to 80, and enjoying over 10x YoY revenue growth — all of which provide direct evidence of the shift in consumer shopping behavior, and the resulting commercial demand to create a more dependable, modern and affordable delivery fulfillment solution.
“Our overall experience with OneRail has been seamless. The OneRail solution has allowed Milton Cat the ability to offer our customers a final mile delivery service that customers see value in and are willing to pay for. From their on-demand support team to making 30-minute pickups a reality, OneRail has provided Milton Cat with a truly differentiated solution to support and grow our customer service capabilities,” said Chris Milton, Milton Cat CEO.
The startup’s Logistics Partner Network — a managed marketplace that seamlessly benefits both shippers and courier businesses — grew by 4 million from last year. Carrier partners such as Frayt, Hailify, Lyft, SkipCart, Epic1, Dropoff, DoorDash and more look to OneRail to serve as or support their own fleet to scale their businesses, while shippers across Retail, Product Manufacturing, Construction, Health Care Networks and more rely OneRail’s impeccable delivery service levels to delight their customers.
"OneRail is an amazing partner to Hailify; we couldn't have asked for a better partner!” said Nick Bhashyam, CEO of Hailify. "The team at OneRail is kind and collaborative. It has been inspiring to watch them grow so quickly, and it is only a testament to the team at OneRail. We have loved working, growing and scaling with them over the last year, and we are excited to continue to grow together!"
Gaingels joined Ironspring Ventures as new investors in the round. The company’s current investors, including Chicago Ventures, Bullpen Capital, Las Olas Venture Capital, CreativeCo Capital and Alpine Meridian Ventures, all participated in the round.
The new capital investment in OneRail will accelerate the company’s rapid growth in the final mile logistics market that contributes $417 billion annually to GDP in the United States alone. OneRail plans to expand its customer success team, delivery operating system capabilities and Logistics Partner Network, while activating key partnerships, notably with SAP through its recent integration with SAP Commerce Cloud, now available in the SAP Store.
Headquartered in Orlando, Florida, OneRail solves last mile delivery logistics more comprehensively than any other offering in the space, with a 3-in-1 approach that improves dependability, speed and cost. Between its massive national courier network of 7.5 million drivers, its API-driven smart-matching platform and its 24/7 exceptions management team, OneRail combines best-in-technology with the critical human element to streamline last mile workflow. Available as a standalone platform or easily integrated with an existing TMS, OneRail helps global brands across Retail, Healthcare, Construction and Materials, and more optimize their supply chain and experience real-time visibility and an on-time delivery rate of 98.6 percent. To learn more about OneRail, visit OneRail.com.
About Ironspring Ventures
Ironspring Ventures is a venture capital fund investing in digital industrial supply chain innovation. The fund’s sector-focused approach partners with world-class founders and teams who are revolutionizing the way we design, build, distribute and operate in the physical world. Learn more at ironspring.com.