Cartwheel, a Los Angeles-based on-demand delivery management platform, announced that it has raised $3M in a seed funding round led by Moonshots Capital, with participation from Chingona Ventures.
Existing investors, including TenOneTen Ventures, Act One, and Pitbull Capital, joined. The latest fund will enable Cartwheel to accelerate product development, partner integrations, and company expansion.
“The Cartwheel team has spent the last ten years building and optimising delivery management technology, evolving a solution built for our own restaurant into a SaaS product designed for scale, and we are proud to count some of the biggest brands in the industry as our partners and customers,” says Alex Vasiklin, Cartwheel co-founder and CEO.
He adds, “This round of funding will help us further the adoption of our delivery management technology, improving the delivery experience for operators and customers alike.”
Provides delivery management software
Alex Vasilkin, Magdim Metshin, and Dan Zamylin founded Cartwheel as a delivery restaurant in 2012. Soon after, the company grew to become one of the most popular delivery operations in Los Angeles, upon which the founders decided to focus solely on the delivery outsourcing business.
The US company provides delivery management software built for on-demand optimisation.
It supports in-house, outsourced, and hybrid delivery models, giving operators control over the customer experience while balancing costs and resources to make every delivery profitable.
When an in-house fleet is occupied during peak periods, Cartwheel automatically taps into the outsourced driver fleet and allows businesses to set automatic rules for order routing.
The company’s turnkey offerings for in-house delivery management include an easy-to-use driver app, sophisticated dispatch tools for managers, and user-friendly customer interaction functionality.
Cartwheel says the customers that outsource deliveries have access to a white-labeled network of drivers to handle overflow capacity during periods of high demand.
Further, the company matches driver supply with individual business needs, providing operators with additional capacity when needed, and its interface offers branded tracking links, making outsourced delivery feel like an in-house order to the customer.
Customer base and partnerships
Last year, the Los Angeles company tripled its overall customer base and expanded to serve brands in the heavily-regulated cannabis and alcohol industries.
The company’s tools are now available to more than 8,000 establishments nationwide. It includes a partnership with Olo and its network of restaurants nationwide.
Additionally, Cartwheel announced more than a dozen partnerships and integrations with platforms including ChowNow and Nash, bringing Hybrid Delivery availability to small and mid-market businesses, courier services, and restaurant chains nationwide.
Founded in 2017, Moonshots Capital is a seed-stage venture capital firm that invests in extraordinary leadership. Collectively the VC firm has founded and operated 15 companies and invested in over 105 ventures.
“Moonshots Capital invests in extraordinary leadership and the team at Cartwheel has the leadership, experience, and strategic vision to transform on-demand delivery,” says Craig Cummings, General Partner of Moonshots Capital.
He says, “To keep up with consumer demands, the delivery has become a crucial required ingredient for brands and businesses, and Cartwheel’s technology powers a customizable solution that improves any delivery program.”