Headquarters: Melbourne, Australia
Regions of operation: Australia & New Zealand
1 million+
packages delivered
12,500+
couriers registered
195+
systems installed/contracted
Scope 3 carbon reductions from fewer redeliveries
Groundfloor Co-Founder Lauren Melton talks about relationship with Taronga Ventures
“We have thoroughly enjoyed the last few years with Taronga. We have found the team to be supportive, insight and proactive. The insights they have from their industry interactions are broad based and current and always play in during our boardroom discussions. They have also helped to educate the industry on our value and offering and always contribute to make valuable customer introductions.”
Lauren Melton, Co-Founder & Director, Groundfloor
Before investment
At the time of Taronga Ventures’ investment, Groundfloor was primarily focused on the commercial office and residential segments with a limited number of installations in market.
Taronga Ventures strategic support
Taronga Ventures has supported the Groundfloor team to expand into new real estate use cases, including retail, built-to-rent (BTR) and purpose-built student accommodation (PBSA), through active introductions across its investor base and innovation program partners.
At a company level, Taronga Ventures’ investment team has supported Groundfloor with a range of tactical and strategic challenges, including advice on developing the company’s sustainability proposition.
Value created
Groundfloor’s business has continued to grow strongly, quadrupling from 2022 to 2024 including consistently growing recurring revenue. Taronga’s assistance in helping Groundfloor to diversify into new real estate sectors has created defensibility in the business and alternate growth strategies under variable market conditions.
About Groundfloor
Groundfloor™ provides the software & parcel locker solution for 24/7 management of parcels, bundled mail, dry cleaning and refrigerated deliveries.
For more information, visit https://groundfloordelivery.com/.
Source: Groundfloor, May 2024
