UniUni closes US$30M Series C2 round, led by Bessemer Venture Partners
Richmond, B.C., Canada—UniUni, a logistics company changing the last-mile delivery
landscape and one of the fastest growing companies in Canada, is pleased to announce
Bessemer Venture Partners (Bessemer) is the lead investor in an oversubscribed US$30
million Series C2 financing round, with participation by LFX Venture Partners, Lanchi
Ventures, Joy Capital, and Celtic House Venture Partners. This funding marks more than
US$100 million in total funding that UniUni has raised in the last 12 months, including
US$50 million in a Series C1 financing round led by DCM, announced in April, bringing
UniUni’s total funding to US$120M.
The new funding will fuel UniUni’s rapid U.S. expansion, including the addition of
warehouses, robotic sorting centers that reduce costs and increase eWiciency and
accuracy, along with continued investments in software improvements, such as AI
integration for both customer service and driver delivery routing optimization.
UniUni now has more than 600 employees, and generates hundreds of millions of dollars in
annual revenues in North America. After expanding to the United States 24 months ago, the
company today has high-capacity sorting centers serving 30 cities including Dallas, Los
Angeles, Miami, New Jersey, New York, and San Francisco. UniUni has doubled its total
number of warehouses in the past six months, with parcel volume increasing 425% in the
past year, and 44% in the past six months, and has an expanded registered driver network
of more than 40,000. Total monthly U.S. revenues have also increased fourfold in the past
year after a three-year increase of nearly 13,000% that made UniUni the fourth fastest
growing company in Canada, according to The Globe and Mail.
“UniUni now has more than 60 warehouses across North America, and these funds will
help to further boost our growth and expand our service areas to more of the United
States,” said UniUni CEO Peter Lu. “Automated sortation lines will be deployed in more
cities, which will enhance parcel-handling capacity, eWiciency and accuracy, while
speeding up delivery times.”
“Logistics is a massive market undergoing structural change due to the accelerating
demands of the e-commerce era, with a new class of carriers emerging,” said Bryan Wu,
partner, Bessemer Venture Partners. “UniUni brings a new model of delivery that addresses
the pressing demands for e-commerce platforms and online retailers. We’ve been
impressed with the company’s traction and growth and look forward to partnering with the
UniUni team as they continue to expand their footprint across North America.”
Revenue in the global e-commerce market is expected to top US$4 trillion this year, with
revenue expected to grow at an annual clip of 9.49 per cent through 2029, according to the
German online platform Statista, which specializes in data gathering and visualization.
According to the U.S. Census Bureau, total e-commerce sales for 2023 topped $1.1 trillion,
an increase of 7.6 per cent from 2022 levels.
About Bessemer Venture Partners
Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge
long-standing companies. With more than 145 IPOs and 300 portfolio companies in the
enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from
their early days through every stage of growth. Bessemer’s global portfolio has included
Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and
has more than $18 billion of assets under management. Bessemer has teams of investors
and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong
Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago,
Bessemer’s storied history has aWorded its partners the opportunity to celebrate and
scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).