As a technology-enabled logistics company that specializes in same-day time-critical shipments including organs for transplant, aircraft parts, and COVID-19 tests and vaccines, Airspace is proud to support our customers’ critical needs. Recently, our Co-Founder and CEO, Nick Bulcao, spoke with Telstra Ventures about what it takes to build a successful company from the ground-up. Bulcao covered topics ranging from Airspace’s patented technology and passionate team to funding efforts and how Airspace’s investors are supporting the company’s continued expansion. Here, we’ll cover Airspace’s growth and our recent Series C funding, plus access to the full podcast below!
What Makes Us Different?
Airspace was established in 2016, however the history of how our company came to be started in 2014 when Bulcao purchased a courier company that focused on time-critical logistics. In the podcast, he mentions how he noticed the complete lack of technology and transparency within the industry and knew that had to change. Airspace was founded to provide a solution to the problems that still exist in the industry today, including delayed shipments, human-error, and a lack of visibility.
But what exactly makes Airspace so special? Bulcao attributes Airspace’s success to our patented technology and the heart of the company, the people. Our technology gives customers the visibility necessary for a successful delivery along with calculating the most optimal route for a package within a matter of seconds. For all deliveries tied to an airline, referred to as Next Flight Out (NFO) shipments, Airspace’s technology serves up 10,000 route options per flight, resulting in hundreds of thousands of available routes. While our technology is unlike any other in the industry, Airspace would be nothing without the people behind the tech. Our passionate and dedicated team works hard to ensure the continued success of the company … and we’re growing!
Growth at Airspace
Airspace continues to expand - from employees and locations to the number of deliveries and lives saved. We recently opened an office in the Netherlands along with importing and exporting packages to 23 countries, officially making Airspace a solution for international customers. Our team is also expanding with the addition of 65 employees in 2020 and we’re forecasting that the company will grow to 300 employees in the next 12 to 18 months. Adding to the list, we onboarded over 800 drivers last year who help make our time-critical deliveries possible.
We love what we do at Airspace and the proof is in the numbers! We broke Airspace history this month by surpassing 500,000 total orders which resulted in more than 165,000 lives saved from our technology-driven platform.
Investing in Success
Our success would not be possible without the support of our incredible investors. In the recent podcast episode, Bulcao discusses the importance our various series of funding has had on the company along with a breakdown of what each series means:
- Series A funding helps a company further optimize its user base and product offerings. Our Series A funding of $8 million came from Defy Partners with participation from Qualcomm Ventures (the investment arm of Qualcomm Incorporated), Cross Culture Ventures, and Schematic Ventures back in August of 2018.
- Series B funding is all about taking businesses to the next level, past the development stage, and assists in growing the company to meet increasing demands. In November 2018, shortly after our Series A funding, we announced our $20 million Series B funding which was led by Scale Venture Partners with participation from our existing investors.
- Series C funding is focused on scaling the company, growing as quickly and successfully as possible. In January of this year, we secured our largest funding to date with a $38 million Series C funding. This was led by podcast host Telstra Ventures and joined by co-lead HarbourVest Partners along with previous investors including Scale Ventures, Qualcomm Ventures, and Prologis Ventures. This round will allow us to continue to expand our global presence and meet the demand of our customers’ time-critical shipping needs.
Be sure to watch the full interview below and for more information on Telstra Ventures, head here.