June 26, 2009
VC Firm, Lightspeed Venture Partners Invest $30 Million Series D Funding for MailExpress
Based in Atlanta, Georgia, large private small parcel and non-letter currier, MailExpress announced that it had secured a whopping $30 million in series D funding with Lightspeed Venture Partners leading the funding round. Other vc firms that also participated in this round of funding include CMEA Capital, Logispring, XAnge Capital, and Adams Street Partners.
MailExpress is one of the largest private curriers and provides formidable competition for the United Statesâ€™ other major curriers, such as UPS and FedEx. MailExpress is a currier and shipping company that mainly delivers large quantities of small parcels and non-letter mail. MailExpress is also very good with its services related to the parcels it curries with customer services features, such as online tracking, first-class speed, realtime analytics, and customized reporting.
As part of the agreement for this round of funding, Eric Oâ€™Brien, Managing Director of Lightspeed Venture Partners will join MailExpressâ€™s board of directors.
Proceeds from this round of funding will be used to further MailExpressâ€™s endeavors and support the companyâ€™s amazing customer growth and invest in marketing and business development. Proceeds will also go to fund MailExpressâ€™s expansion of its operations in the United States and enhance its distribution centers to meet the growing shipment count. MailExpress delivers over a million parcels per day.
Mr. Oâ€™Brien stated as he was appointed to MailExpressâ€™s Board of Directors, that MailExpress has an immense market and with the innovative technologies that MailExpress has developed, the growth potential is very attractive to investors. Mr. Oâ€™Brien further stated that when the founders of MailExpress had brought their platform to Lightspeed Venture Capital, and the vc firm evaluated the companyâ€™s platform, the partners at Lightspeed noticed that this was a great opportunity and chose to invest in MailExpress.
MailExpress was founded in 2005 by veterans in the industry who worked at SmartMail, which was acquired by DHL; a German shipping company which currently picks up parcels in the United States to deliver internationally, but does not ship within the United States.
The key to the success of MailExpress is that it has made a unique merger of its capabilities with processing and distribution network together with the US Post Office as a final link in the chain and make mail and small parcel delivery much more efficient.
According to Jim Watson, managing general partner at CMEA Capital, MailExpress is continuously showing a 100% growth rate and has created a new logistics service that establish new customer applications as well as in setting new standards for reducing costs and delivery times. Mr. Watson is also a founding investor of MailExpress and he continued to state that because MailExpress is agile in its mail processing and has an amazing reputation for top quality customer service is one of the reasons that CMEA Capital continues to invest in the company.
Lightspeed is a global vc firm with its main headquarters based in Menlo Park California and internationally has offices in both Shanghai and Beijing, China; New Delhi, India; and Hewrzliya Pituach, Israel. Lightspeed has over $2 billion in committed capital under its management and mainly invests in the tech, internet, and e-commerce industries. Some other companies in Lighsspeedâ€™s portfolio include 99Bill.com, Aerohive, AMEC, Apptera, Avamar, Bling Nation, and others.
For more information about MailExpress, click here.
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