On the heels of an $8 million series A round, Airspace Technologies closed on another $20 million.
The Carlsbad logistics startup closed a series B round, led by Bay Area investor Scale Venture Partners. Past investors, including Qualcomm Ventures, Defy.vc, Cross Culture Ventures and Schematic Ventures also participated in the round.
Airspace CEO Nick Bulcao said the additional funds would be used to hire 120 additional employees next year, with a focus on sales, engineering and operations jobs. In August, Airspace reported a staff of more than 50 employees.
The funds will also support additional updates to Airspace’s platform. Its software helps companies make rapid deliveries on the next flight out, improve transparency and reduce the cost of shipments. The fast-growing tech startup currently has more than 100 clients, including FedEx and Frontier Airlines.
Bulcao co-founded the company with Chief Technology Officer Ryan Rusnak in 2014, after a 12-year career in logistics.
“Time-critical logistics is ripe with errors and antiquated practices that cause hundreds of millions of dollars in damages every year. For the most sensitive deliveries, like organs for transplant, delayed deliveries can mean the difference between life and death,” Bulcao wrote in a Nov. 15 blog post.
Stacey Bishop, a partner with Scale Venture Partners, will join Airspace’s board of directors as part of the round.
”Airspace is enabling a long-overdue technology overhaul in the time-sensitive logistics market,” Bishop stated in a blog post. “Nick and his team have the experience and vision to truly transform how mission-critical deliveries get made.”