SAN FRANCISCO–(BUSINESS WIRE)–Grabr, the SF-based platform introducing a faster, more reliable way to deliver international products direct to consumer, today announced it has closed an $8 million Series A funding round led by Foundation Capital with participation from Geoff Donaker, former COO of Yelp, Matt Wyndowe, formerly head of product partnerships with Uber, and Gokul Rajaram, head of product engineering at Square.
Since co-founders Daria Rebenok and Artem Fedyaev launched Grabr in 2016, the company has secured over $14 million in venture capital funding. As part of this round, Charles Moldow, general partner of Foundation Capital, will join the company’s board of directors. Previous investors include Founders Fund and SignalFire.
“By connecting international buyers with existing travelers to supply them with products from abroad,” said Charles Moldow, general partner of Foundation Capital, “Grabr has created the first social logistics platform in the vein of AirBnB or Uber.The company has grown 5x since raising its funding round and we look forward to partnering with the team as they increase their presence in key markets.
With Grabr, shoppers gain access to products largely unavailable or expensive in their home country, and travelers can monetize extra space in their luggage to subsidize the cost of travel – earning an average of $350 on their first travel – or often travel completely free. By helping each other, everyone gains access to an experience they otherwise could not have, and the transformative experience of international travel becomes accessible to a whole population of people who otherwise could not. to permit. With a community of over 450,000 users, Grabr travelers have earned over $1 million in personal delivery rewards through deliveries in 53 countries on six continents.
“We are thrilled that Charles and the Foundation Capital team share our passion for changing markets and changing the way people used to operate,” said Grabr co-founder and CEO Daria Rebenok. “We’ve created a new way for international travelers to finance their trips while providing a much-needed service to consumers. Grabr’s mission is to put the world at your fingertips by creating a community of shoppers and travelers, where travel becomes more affordable and adventurous. Trust and security are pillars of the Grabr mission: Above all, Grabr is committed to building a community of like-minded people who believe in making the world more global, one purchase at a time . »
The company will use the funds to launch major product updates and new features to improve the user experience and increase the number of ways travelers and shoppers can earn, and to improve the team by hiring top talent. key businesses in the market, community and logistics sectors.
Founded in March 2015 by Daria Rebenok and Artem Fedyaev, Grabr promotes human connection globally by introducing the most reliable, fastest and most personal delivery platform in the world. Grabr offers travelers an extra sense of adventure, extra money, and a chance to meet new people, while shoppers get access to products they couldn’t otherwise buy. The only global peer-to-peer delivery network to offer secure payments and an in-app messaging platform, Grabr has created a whole new category of social logistics.
About Foundation Capital
At Foundation Capital, our guiding star builds significant businesses of lasting value. Among our portfolio of companies: we’ve helped Netflix revolutionize media distribution and consumption, Lending Club change the way money is lent and borrowed, and Sunrun reinvent the clean energy residential market. Our partners are former operators and entrepreneurs. They have successfully followed the founder’s path and are now helping other entrepreneurs on their own journey to building great, sustainable businesses.