As the market for e- commerce in Latin America is poised to double in three years, the consumer demands to receive orders on time and packaged correctly will only increase.
For decades, e-commerce giants, like Amazon and Mercadolibre, have mastered the logistics and delivery technology for their marketplaces, but more recently, startups have developed similar technology to enable any sized e-commerce business to have equal footing.
clicOH raised $25 million in Series A funding in a round led by Tiger Global. JAM Fund, Flexport, FundersClub and Vast VC are joining them. The company has received $33 million in funding since it was started by Juan Martin Altamirano, Emiliano Segura and Agustin Novillo Saravia.
ClicOH, a Y Combinator alumni, has a proprietary technology that allows sellers to track shipments in real time via a dashboard with key indicators.
The CEO of Novillo Saravia said in an email that Latin America was not prepared for the surge in e- commerce after the economic downturn.
Despite LatAm being one of the fastest growing regions in the world, just 5% of retail sales were made online in 2021. He said that the company went after additional funding because of that.
He said that the problem of e-Commerce is a problem that can only be solved with data and efficiency.
Since launching its current business model in 2020, clicOH has grown quickly. Every 20 seconds, the company delivers a package to all of its customers.
Novillo Saravia said that the number of packages clicOH processes monthly is growing by 30% and revenue in the first quarter was six times higher than in the same period in the previous year. The company had 40 employees a year ago, and now has 175.
ClicOH is one of a number of startups raising funding to develop e-commerce infrastructure to grab a piece of the burgeoning market in Latin America. 99minutos raised an $82 million Series C round in March, Cubbo brought in a small seed round in November, and Skydropx is developing a delivery system.
Novillo Saravia plans to use the new capital to continue its expansion throughout Latin America, including entering Colombia.
He added that they are looking for additional regions throughout LatAm.
Last-mile delivery in Latin America is ready to take off
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