When Michael Patton moved to a Dallas apartment complex three years ago, the leasing office was receiving 250 to 300 packages every day.
“The e-commerce explosion has flooded apartment buildings with packages,” Patton said. “I saw what a pain it was for the property managers, and that was an eye opening moment for me.”
Now, Patton says, he has a solution. His startup, Fetch, collects the parcels mailed to apartments at off-site warehouses and then delivers them to residents at a scheduled time.
Following a recent $3 million round of fundraising, the 15-person company is moving its headquarters to Austin, where it will be closer to investors and can tap into the Central Texas startup talent pool.
“We want to be more connected to the Austin startup scene,” Patton said. “We look to hire our team over the next couple of years and we think it’s a great place to be.”
The investment round was led by Austin-based Silverton Partners, with participation from Capital Factory, Venn Ventures and Texas-based multifamily real estate owners and managers. Patton previously raised $500,000 from friends and family.
The service, which launched in 2016, works like this: When residents place an online order, instead of having the package delivered to their home address, it is sent to Fetch. Residents receive instant notification when the package arrives at the Fetch facility, and they can schedule delivery in a two-hour window. The driver arrives at the property and hand delivers the package at the door.
Fetch has signed contracts with 15 properties across Dallas, and manages packages for about 5,000 apartments. Clients include national property management companies such as Greystar and Pinnacle.
Fetch launched the service in Austin and Houston on Aug. 1, and plans to expand outside of Texas next year. It also plans to add additional services such as package returns and dry cleaning.
Property managers are charged per unit on a monthly basis, typically $10 per unit. Fetch is on track to post $1 million in revenue in 2018, Patton said.
Fetch’s track record with leading property management companies drew Silverton’s attention, said Kip McClanahan, Silverton general partner.
“We’re excited to partner with Fetch because they’re proven their value with some of the biggest names in the industry,” he said. “They’re positioned to be a crucial piece in the everyday life of apartment residents across the country.”
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