Route raised $40 million in a Series C at a $1.4 billion valuation led by Hanaco VC

Jun 25, 2024•about 1 year ago

Amount Raised

$40 Million

Round Type

series c

LehiSoftwareInformation Technology

Investors

Craft VenturesUpfront VenturesGrangerMadrona VenturesJaws VenturesHanaco Vc

Description

Route has raised $40 million in its Series C round, valuing the company at $1.4 billion. The funding was led by Hanaco VC and included Jaws Ventures, Madrona Ventures, and Granger, with previous investors including Upfront Ventures and Craft Ventures. The company's resilience in maintaining its unicorn valuation is notable, especially during a downturn in the VC sector.

Company Information

Company

Route

Location

1557 West Innovation Way

Lehi, Utah, United States

About

Route is the leading post-purchase platform for modern commerce. Trusted by thousands of brands, Route helps merchants deliver better tracking, buyer protection, issue resolution, and returns experiences – all in one powerful platform. With Route, shoppers get more visibility and peace of mind, and merchants unlock loyalty that lasts beyond checkout.

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech