Investment accelerates product and infrastructure development to scale next-generation carrier
AUSTIN, Texas, December 7, 2022 — Maergo (previously known as X Delivery), the trusted national carrier serving retailers and DTC brands with faster and greener shipping, today announced it has closed a $20 million seed round. Lead investors included Deep Lake Capital, funds managed by investor and entrepreneur Neel Shah, and ACR Strategic Credit, with participation from RyderVentures, the corporate venture capital arm of Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions. With the closing of the round, the company also completed its rebrand to Maergo.
Maergo’s fundraise follows a year of product development, team growth, and sales progress with expansion of existing accounts and the addition of new customers including Saks Fifth Avenue, Allbirds, Chubbies, and Buck Mason. These retailers join a growing list of enterprise clients focused on improving the delivery experience for their customers. Technology updates include improvements to the company’s predictive shipping platform, offering a real-time decision and routing platform that continuously optimizes first, middle, and last mile operations.
“Since I joined the firm as CEO in November 2021, we have focused on solving one of the biggest challenges facing every direct-to-consumer brand today—how to get online orders in the hands of their customers faster at a lower price point and in a eco-friendly way,” said Mark Lavelle, CEO of Maergo. “We are excited about empowering our clients to meet all three objectives while enabling them to maintain control over their customer data and post-purchase experience.”
Led by a seasoned executive team with a history of working together and leading ecommerce giants PayPal, Magento, and Adobe, over the past year Maergo has delivered more than 8 million shipments for its customers. Prior to Maergo, Lavelle was CEO of Magento, which he led to a $1.7 billion sale to Adobe in 2018, and was previously cofounder of Bill Me Later, the first BNPL company that was acquired in 2008 by PayPal.
“The investment we’ve made in Maergo through RyderVentures is consistent with our strategy to bring to market new technology-driven solutions that are tackling disruptions in the supply chain, and the high-growth e-commerce business is a major focus area for us,” says Karen Jones, CMO and head of new product development at Ryder. “With the growth of e-commerce and resulting capacity constraints, shippers are looking for more flexible parcel solutions. Through Maergo’s tech-first approach to parcel delivery, they’re able to leverage existing capacity in the marketplace to offer an end-to-end solution. That’s both compelling and an exciting opportunity for us and our customer base of high-growth brands.”
Maergo is a national carrier providing faster, cheaper, and greener shipping by leveraging cargo space in scheduled passenger flights for the middle mile and optimizing a diverse network of delivery partners for the first and last mile. Trusted by leading retailers and DTC brands, Maergo shortens time in transit for packages, produces 70% less carbon emissions than legacy providers, and empowers brands to control and improve their customers’ post-purchase experience. For more information, please visit www.maergo.com and read the coverage from TechCrunch here.
Name: Rachel Martin
Email: [email protected]