Seattle startup Pandion, founded in 2020 by former Amazon and Walmart executive Scott Ruffin, recently raised a $41.5 million Series B round. The company focuses on helping online retailers deliver orders to customers through a residential parcel delivery system that covers 80% of U.S. homes and includes five sortation centers. Pandion picks up packages at fulfillment centers from customers such as Saks Fifth Avenue and uses a network of 500,000 “last mile” delivery drivers to get products to their final destination.
Competing against major players like UPS, FedEx, and Amazon, Pandion aims to provide an alternative option for companies that need a diversified network of carriers for their parcel delivery needs. With the fresh funding, the company plans to open more sortation centers and expand its geographic reach. Revolution Growth led the Series B round, with other investors including Playground Global, Prologis Ventures, Bow Capital, and more. Kristin Gunther from Revolution Growth is joining the Pandion board.
E-commerce startups like Pandion experienced a surge in funding during the pandemic-driven boom in online shopping. While some logistics companies struggled during the slowdown in startup funding post-pandemic, Pandion’s sales are expected to reach $220 million this year. U.S. e-commerce sales grew by 7.6% in the previous year, reaching $1.1 trillion, with online sales representing 22% of total U.S. retail sales, up from 21.2% in 2022.
In addition to the funding round, Pandion announced a series of executive hires to support its growth. The new hires include industry veterans like Brent Cervenka as the chief operating officer, Jeff Petersen as the head of network design and strategy, Jay Sackos as the vice president of sales, and Austin Luhman as the head of product. With these new leadership additions and the continued growth of e-commerce, Pandion is poised to capitalize on the increasing demand for efficient parcel delivery services.
Scott Ruffin, founder and CEO of Pandion, has significant experience in the logistics and e-commerce industry, having led Amazon Air and held executive positions at J.W. Logistics and Walmart. His vision for Pandion is to provide retailers with a reliable and accessible alternative to traditional national parcel carriers. With a focus on improving logistics agility for retailers, Pandion aims to leverage its network of delivery drivers and sortation centers to meet the growing demands of online shopping customers across the U.S.
Overall, Pandion’s recent funding round and executive hires signal the company’s continued growth and success in the competitive e-commerce logistics space. With a strong leadership team, strategic investors, and a rapidly expanding network, Pandion is well-positioned to meet the evolving needs of online retailers and capitalize on the ongoing growth of e-commerce in the United States.
