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On-Demand Startup Favor Secures $22 Million

Texas on-demand delivery startup Favor Secures $22 Million
Credit: favordelivery.com

Favor, a Texas-based, on-demand delivery service, today announced that it closed $22 million in Series B financing, led by existing investor S3 Ventures. Seed investors Silverton Partners, venture capitalist Tim Draper, and others also participated.

Whether it’s lunch at the office, a household shopping list, or errands people just don’t have time for, Favor’s personal assistants, called Favor Runners, can take care of it in just a few taps. Favor is currently available in 15 cities across Texas, where it is rated as the top delivery service.

According to the company, Favor has completed more than six million deliveries since its launch in 2013 and is on track to complete 4.5 million deliveries in 2017 alone. Favor projects that Texas businesses will receive $100 million in gross product sales from its deliveries this year. To support its rapid growth, the company is onboarding more than 25,000 independent contractors to add to its existing Runner community.

In its announcement, the company said the latest funding will support Favor’s continued growth in both Texas and beyond, as well as accelerate the company’s product roadmap.