Route Hits $1.25 Billion Valuation With Series B Round
Los Angeles – February 1, 2022 – Cooley advised Route, a post-purchase experience platform and package tracking company, on its $200 million Series B financing round, which brings its valuation to $1.25 billion. Lawyers Dave Young, Joseph Kaczorowski, Robert Pollak and Roslyn Akel led the Cooley team advising Route.
A London-based investment firm led the round, with participation from Todd Boehly’s Eldridge, Madrona Venture Group, Riot Ventures, Banner Ventures, FJ Labs, Endeavor, Barry Sternlicht’s JAWS Capital, and 75 & Sunny Ventures. Individual investors, including CEO of ClassPass Fritz Lanman, Venmo founders and executives, Squarespace, Zillow, Flexport, Elevate Brands and Net-a-Porter, also participated in the round.
Route will use the new capital to support growing product and engineering teams to continue developing new technology and features – such as advancements in personalization, automation and brand loyalty capabilities – to bring to life the company’s vision for a reimagined ecommerce experience where everything a customer orders is in one place, eliminating the friction in the purchase journey for consumers and brands.
“Consumers now more than ever want transparency around online ordering and hold brands to higher standards,” Evan Walker, founder and CEO of Route, said in a news release. “We’ve demystified the post-purchase experience by communicating with users at every step of the customer journey. Looking beyond being the package tracking leader, we’re adding products and features to simplify and improve other areas within ecommerce such as one-click resolve for shipping issues and a discover platform that is curated and personalized to each user based on global shopping behavior and trends.”
Route is helping people discover and celebrate brands and products through a completely reimagined ecommerce network. Its unique platform takes a holistic approach to online shopping, rethinking the consumer experience from delivery to discovery via the Route app, while offering a suite of features that provides merchants the tools necessary to enhance the overlooked post-purchase experience. Since launching in 2019, Route has built a network of millions of app users and more than 11,000 merchants.
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