As e-commerce has exploded during the pandemic, apartment complexes have been overwhelmed by packages. Austin-based Fetch, which provides a delivery solution for apartment managers and residents, said Tuesday that it has raised $18 million to expand its service. Iron Gate Capital and Pando Ventures led the Series B funding round and were joined by existing investors Signal Peak Ventures, Silverton Partners, Seamless and Venn Ventures. Fetch has raised a total of $32 million.
Austin delivery startup Fetch lands $18M for growth
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Reducing operating costs has always been a top priority for property managers and building operators. A proven way to do this is to focus on resident retention. A survey by Avail showed that when residents renew their leases, landlords can save up to $2,500 that would otherwise be allocated toward finding new renters and making updates to units for rent.
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"We needed a package management solution that first and foremost improves the resident experience, and also lifts package responsibilities from our team members' shoulders," said Mark-Taylor President John Carlson. "Fetch is the best solution to support our team members while offering residents package delivery service catered to their personal schedules and needs. At Mark-Taylor, we are excited to experience the unique benefits that Fetch will bring to our communities."
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Fetch is growing substantially, having delivered over 10 million packages since its founding. In 2021, they spread to six new markets, including Minneapolis, Raleigh-Durham, Palm Beach, Fort Lauderdale, Miami and Nashville. To further highlight the innovative new tech companies addressing particular needs, Built In Austin curated a list of 22 of the city’s startups to watch in 2022.
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