Veho, a startup that uses technology to facilitate next-day package delivery, raised $170 million in an early-stage funding round led by Tiger Global that valued it at $1.5 billion.
San Francisco-based Veho plans to use the funds to expand across the United States, automate warehouses and quadruple its headcount to 2,000 by the end of 2022. "The parcel delivery industry is straining under enormous demand and a permanent shift toward residential delivery," said Griffin Schroeder, partner at Tiger Global.
Veho also counts among its backers Mantis, the venture capital firm of American pop duo The Chainsmokers, as well as the founders and chief executive officers of sneaker-maker Allbirds Inc, Flexport and eyeglass-retailer Warby Parker Inc.
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