A look back on 2020
While last year certainly delivered its challenges for us all, we are proud to say that as an essential business in 2020, fetch operated at 100% and had some major accomplishments along the way. With ecommerce growing over 30% year-over-year, fetch became a necessity, as apartment buildings were never built or intended to handle the current package volumes themselves. Our team consistently rose to the occasion and we couldn’t be more thankful for them, our multifamily clients, and residents. Here are a few highlights of last year’s big wins and milestones!
Over the course of 2020 we grew our unit count 3x, our monthly revenue increased by over 300%, and we added tens of millions of dollars in contracted annual revenue! We welcomed nearly 50 new clients over the course of 2020, and now work with over half of the NMHC Top 50. More recently, we announced our national partnership with Greystar, unlocking over $100M in annual revenue potential from just one client.
I’m also extremely proud of how our teams continued to execute in the face of new pandemic problems on a weekly basis. We delivered our 4 millionth package right after the new year, and maintained exceptional on-time rates throughout 2020 to our tens of thousands of weekly users. We continue to prove out our unit economics, with multiple facilities flipping to profitability in 2020 and a number of others set to add to that list in the first quarter. To position ourselves for further national growth, we added George Schultz to the team as our COO heading into 2021. His experience at FedEx and Amazon will help us continue to scale and keep the customer at the forefront of all our decisions.
I’m a firm believer that adversity reveals true character. 2020 certainly provided the world with plenty of adversity, and I’m proud to know that the fetch team came through on the other side stronger than ever. Looking ahead to 2021, our growth continues to accelerate and we look forward to serving hundreds of thousands of residents on a weekly basis.