Guggenheim’s Alan Schwartz Invests in Shipping Disruptor, Roadie

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Alan Schwartz

Roadie, the Uber of package delivery, is on the road with $10 million in Series A funding, as reported by Techcrunch. The app takes an idea from Uber and runs with it, and may disrupt UPS and other delivery services. Founded in Georgia, it is sweeping the Southeast and is expanding fast, as thousands have signed up to be Roadie drivers. It is the first “neighbor to neighbor” shipping network. Senders post photos and details of items they want to send, and a Roadie driver is assigned with the task of delivery. A simple concept, but it is likely to change the shipping industry forever.

Participants in the $10 million funding round include former Google co-founder Eric Schmidt’s TomorrowVentures, Alan Schwartz of Guggenheim Partners, Warren Stephens of Stephens Inc and Jim McKelvey, co-founder of Square. Court Coursey, a managing partner at TomorrowVentures said, “It’s a win-win for everyone, because consumers get their items delivered more efficiently using excess cargo already on the road, and drivers get extra cash and other benefits in return for helping someone out.” Roadie drivers also enjoy perks of having company assistance in finding the best pit stops and quickest routes. Fees vary according to length of trip, time involved, and can range from $8 to $150.

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