Matthew Lafferty and his business partner Brian Gonzalez were working to build a construction contractor company, but after discovering some inefficiencies in the industry, particularly around last-mile logistics, they eventually pivoted to the distribution of construction and industrial supplies.
They created Curri in 2018 to provide last-mile logistics for construction and industrial supplies. The company offers logistics services and a nationwide fleet, so its customers can “quickly and securely” deliver loads, ranging from heavy machinery to lighter loads like pipes, pallets, large appliances and water heaters.
Their customers are distributors and wholesalers of construction and industrial supplies, including Ferguson, Winsupply, Sherwin-Williams, Graybar, Johnstone Supply and United Rentals.
Curri says it helped companies move more than $1 billion worth of supplies across the country last year.
To fuel its growth, the startup recently closed on a $42 million Series B round led by Bessemer Venture Partners.
Last-mile technology has been an investor favorite recently. Investment in this realm has increased by 175% since 2019.
Neither Lafferty nor Gonzalez had any experience in logistics. So they spent a lot of time visiting construction sites and distributors.
"We only built something when we saw a shared pattern," Lafterty told L.A. Inno.
Curri offers delivery service, including same-day. It claims that same-day service can save its customers about a third on operational costs and convert 24% more sales.
It has a national fleet ranging in size from small sedans to box trucks and dry vans. It partners with carriers, couriers and individual drivers. The drivers are vetted with background and driving record checks. The carrier and courier services bid on loads within Curri's software platform. The platform enables Curri to connect with thousands of drivers in real time.
The founding duo bootstrapped the company until they received funding from Y Combinator in 2019. They intend to use the recent $42 million to keep enhancing their software platform, improve efficiency around operations and expand sales & marketing efforts.
