What is FAVOR?
Founded in 2013 and headquartered in Austin, Texas, FAVOR operates as an on-demand delivery service. The company facilitates the transport of orders from various stores directly to customers, leveraging a network of self-employed couriers. This model positions FAVOR within the rapidly expanding logistics and last-mile delivery market, a sector characterized by intense competition and a continuous drive for technological innovation and operational efficiency. The company's sustained funding rounds suggest a strategic focus on expanding its service area, enhancing its platform, and optimizing its delivery network to meet growing consumer demand for convenience.
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 investing in technology-driven companies. They have a strong track record in Texas and focus on building long-term partnerships with entrepreneurs.
S3 Ventures
S3 Ventures is the largest venture capital firm focused on Texas, based in Austin. They provide flexible, patient capital to startups across various sectors, including business technology and digital experiences, with initial investments typically ranging from $500K to over $10M.
What's next for FAVOR?
The substantial enterprise-level funding and recent strategic investment signal that FAVOR is poised for significant expansion and operational enhancement. Future developments are likely to focus on deepening market penetration, potentially exploring new verticals beyond traditional retail, and further optimizing its logistics technology. Continued investment will be crucial for maintaining a competitive edge against larger players and for solidifying its market share in the dynamic on-demand economy. The company's trajectory suggests a move towards broader market consolidation or further scaling to achieve greater economies of scale.
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