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Route is a series C company based in Lehi (United States), founded in 2018 by Mike Moreno and Evan Walker. It operates as an Offers solutions for tracking e-commerce packages. Route has raised $340M in funding from investors like Madrona Venture Group, FJ Labs and Peak, with a current valuation of $14B. The company has 413 active competitors, including 20 funded and 13 that have exited. Its top competitors include companies like AfterShip, Slice and Easyship.
Sectors and market segments that Route operate in
Route serves in the B2C, B2B space in the Transportation and Logistics Tech market segments.The primary business model of Route is:Company Details
Route offers solutions for tracking e-commerce packages. The platform allows users to visualize the route of their online orders. It enables the initiation of refund and reordering of lost, damaged, or stolen items. The mobile application connects merchants and customers and is available for IOS users.
- Website
- route.com
- Social
- Email ID
- *****@route.com
- Registered Address
- Rīga, Kurzemes prospekts 56 - 37
Key Metrics
Founded Year
2018
Location
Lehi, United States
Stage
Series C
Total Funding
$340M in 3 rounds
Latest Funding Round
Post Money Valuation
$14B as on Jul 05, 2024
Investors
Ranked
2nd among 413 active competitors
Annual Revenue
€23.6K as on Dec 31, 2022
Employee Count
649 as on Dec 31, 2020
Legal entities associated with Route
Route is associated with 3 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
Oct 04, 2021 | - | - | - | |
Feb 27, 2003 | $12.4K (as on Dec 31, 2022) | 1 (as on Dec 31, 2022) | - | |
Jan 16, 2019 | - | 649 (as on Dec 31, 2020) | - |
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Route's funding and investors
Route has raised a total funding of $340M over 3 rounds. Its first funding round was on Nov 21, 2019. Its latest funding round was a Series C round on Jun 25, 2024 for $40M. 4 investors participated in its latest round, lead by Hanaco Ventures.
Route has 21 institutional investors including Madrona Venture Group, FJ Labs and Peak.
Here is the list of recent funding rounds of Route:
Date of funding | Funding Amount | Round Name | Post money valuation | Revenue multiple | Investors |
|---|---|---|---|---|---|
Jun 25, 2024 | $40M | Series C | - | - | |
Jan 21, 2022 | $200M | Series B | $1.25B | 33288.0x | |
Nov 21, 2019 | $12M | Seed | - | - |
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Route's founders and board of directors
Founder? Claim ProfileHere are the details of Route's key team members:
- Mike Moreno: Co-Founder of Route. Contact Info: 1 email address
- Evan Walker: Co-Founder & CEO of Route and founder of 1 other company. Contact Info: 1 email address
View details of Route's Founder profiles and Board Members
Route's employee count trend
Route has 649 employees as of Dec 20. The total employee count is 139.0% more than what it was in Dec 19. Here is Route's employee count trend over the years:Uncover Route's growth story! Sign up today!Access Tracxn on any website
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Route's Competitors and alternates
Top competitors of Route include AfterShip, Slice and Easyship. Here is the list of Top 10 competitors of Route, ranked by Tracxn score:
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Overall Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Platform offering web-based tracking solution for eCommerce businesses | $67M | 67/100 | ||
2nd | Route 2018, Lehi (United States), Series C | Offers solutions for tracking e-commerce packages | $340M | 65/100 | |
3rd | Slice 2010, Palo Alto (United States), Acquired | Provider of a package tracking app | $38M | 65/100 | |
4th | Provider of shipping solution for eCommerce sellers | $4M | 56/100 | ||
5th | Offers shipment tracking & delivery services | - | - | 52/100 | |
6th | Tech-enabled logistics solutions for e-commerce brands | - | - | 47/100 | |
7th | TOROD 2021, Riyadh (Saudi Arabia), Series A | Offers web-based shipment tracking solutions | $12.7M | 45/100 | |
8th | Hypertrack 2015, San Francisco (United States), Series A | Offers API to track and trace shipments and deliveries | $33.5M | 44/100 | |
9th | Parcel tracking software for online retailers | $8.15M | 44/100 | ||
10th | Provider of a tech-enabled logistics and delivery services | - | - | 43/100 |
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Route's Investments and acquisitions
Route has made no investments or acquisitions yet.
Reports related to Route
Here is the latest report on Route's sector:
News related to Route
Media has covered Route for a total of 2 events in the last 1 year.
•
Route: Package Tracking Platform Company Raises $40 Million At $1.4 Billion ValuationPulse 2.0•Jul 06, 2024•Route, Hanaco Ventures, JAWS Ventures, Madrona Venture Group and 1 other
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Route Raises $40 Million Series C Round at $1.4 Billion ValuationTechBuzz•Jun 25, 2024•Route, Hanaco Ventures, JAWS Ventures, Madrona Venture Group and 4 others
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E-Commerce Tracking Firm Route Hits $1.25 Billion Valuation As Online Sales ExplodeForbes•Jan 21, 2022•Route
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Routed appoints Axiz Cloud Technologies as VMware cloud distribution partner in South AfricaTelecompaper•Nov 11, 2021•Route, Axiz Cloud Technologies, Routed
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Ella Paradis Offers a Solution to Combat Losses Associated with Porch PiracyPRWeb•Mar 10, 2020•Ella Paradis, Route
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Route Package Tracker Raises $12M For AI EnhancementsPYMNTS.com•Nov 21, 2019•Route, Peak, Album VC, Route and 1 other
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Route Announces Strategic Partnership with Pattern, Rises as One of Utah’s Fastest Growing Tech CompaniesBusiness Wire•Jun 25, 2019•Route, Pattern
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