The “last mile” of a delivery, where goods move from the company to their final destination, can be chaotic, but DispatchTrack has been helping companies of all sizes with at-home delivery problems.
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The San Jose, California-based provider of SaaS-based last-mile logistics solutions, received its first investment of $144 million led by Spectrum Equity. In conjunction with the transaction, Spectrum Equity’s Vic Parker, managing director, and Adam Gassin, vice president, will join DispatchTrack’s board of directors.
DispatchTracks’s platform includes modular tools for self-scheduling, dynamic route optimization, real-time tracking, proof of delivery, billing and settlement, and delivery network performance analysis.
Satish Natarajan and his wife, Shailu Satish, started the company 10 years ago after experiencing frustration while waiting for an at-home delivery because of the indefinite waiting, poor communication and overall inefficiency, Natarajan told Crunchbase News.
Previously, a company was able to say it would deliver a product on a particular day, but then customers began asking for specific times, he said.
“The last mile is a big mess,” Natarajan said. “There is a challenge to make sure it gets there on time, as well as to communicate that time to the customer. We put all of those functions into a fast workflow that makes it easier to do all of that.”
For a company to accelerate the speed at which it delivers, it needs a system that is smart, predictive and able to compute applications while also being easy to use, he said.
Now, 10 years later, DispatchTrack has powered over 70 million deliveries and serves customers in industries including furniture, appliances, building materials, food and beverage distribution, restaurants, field and home services, grocery, and third-party logistics.
Natarajan said the new funding will help the company “double down” on its verticals, focus on sales and marketing and continue expanding its product around the world. It already has a presence in the United Kingdom, Taiwan and South America.
Spectrum’s Gassin said the company was “thrilled to partner with DispatchTrack to scale the company.
“They have been able to listen to customers and develop a platform that fits like a glove,” Gassin said.
Illustration: Li-Anne Dias
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