What is FAVOR?
Founded in 2013 and headquartered in Austin, Texas, FAVOR operates as an on-demand delivery platform. The company empowers self-employed couriers to facilitate the transportation of goods from various stores directly to consumers. This model positions FAVOR within the rapidly expanding logistics and last-mile delivery sector, aiming to provide convenience and efficiency for both customers and businesses.
How much funding has FAVOR raised?
FAVOR has raised a total of $35.6M across 3 funding rounds:
Angel/Seed
$2M
Series A
$11.6M
Series B
$22M
Angel/Seed (2014): $2M with participation from Silverton Partners
Series A (2015): $11.6M led by Silverton Partners and S3 Ventures
Series B (2017): $22M supported by Silverton Partners and S3 Ventures
Key Investors in FAVOR
Silverton Partners
Silverton Partners is a prominent early-stage venture capital firm based in Austin, Texas, known for its strategic investments in technology-driven companies. They have a strong track record in Texas and focus on building long-term relationships with entrepreneurs.
S3 Ventures
S3 Ventures is the largest venture capital firm dedicated to Texas, with a focus on business technology, digital experiences, and healthcare technology. They offer patient and flexible capital to startups across major Texas cities.
What's next for FAVOR?
The substantial enterprise-level funding and strategic investment indicate FAVOR is poised for significant scaling and market expansion. This capital infusion is likely to be directed towards enhancing its technological infrastructure, broadening its service offerings, and potentially expanding its geographic reach. The company's trajectory suggests a focus on solidifying its position in the competitive delivery market through operational improvements and strategic partnerships.
See full FAVOR company page
