Austin-based apartment delivery management company Fetch has received a major round of funding as the startup continues its swift growth.

Fetch says it has raised a total of $60 million, with most of that coming in a $50 million funding round that includes investment from Ocelot Capital, Greenpoint Partnets, Alpaca VC and Rose Park Advisors. Fetch said it also secured a $10 million venture debt facility from Signature Bank.

Fetch has now raised more than $92 million since its founding, including an $18 million funding round last year.

The company was founded in Dallas in 2016 by Michael Patton, who was living in an apartment complex that was receiving 250 to 300 packages a day.

"I saw what a pain it was for the property managers, and that was an eye opening moment for me,“ Patton told the American-Statesman in 2018 .

So Patton created Fetch, which collects the parcels mailed to apartments at off-site warehouses and then delivers them to residents at a scheduled time. Property managers are then charged per apartment unit on a monthly basis.

Fetch moved its headquarters to Austin in 2018.

Andrew Townsend, managing member at Ocelot Capital, which led the most recent round of funding, said the apartment industry needs solutions like Fetch to help workers navigate the increase in deliveries.

“Based on our experience within parcel logistics and last-mile delivery, we view the Fetch model as the only sustainable option for multifamily and see it quickly becoming the gold standard for apartment operators,” he said.

Fetch said the new funding will allow it to expand in 24 major markets over the next two years and also grow in its existing markets. Patton said the company hopes to triple its business over the next 18 months by expanding to more cities, apartment complexes and renters across the country.

“The industry has recognized Fetch as the one package model capable of carrying multifamily into the future,” Patton said, “and we’re honored that our investors feel the same.”

Fetch says it delivered roughly 3.5 million packages in 2020 and is on track to deliver about 8 million packages in 2021, already surpassing the 2.5 million mark in June. Throughout the pandemic, the company saw a surge in business as more people relied on online orders for their needs, and year-over-year the company previously said it has grown the number of units it servied by 497%.

“As an innovator and market leader in package delivery, Fetch has achieved remarkable success since its founding and is now reaching an exciting next phase of growth,” Ned Hill, managing director for Signature Bank’s Venture Banking Group, said in a written statement.

The $60 million cash infusion for Fetch comes on the heels of several other significant funding rounds for Austin companies.

Elevate Brands, an e-commerce company that buys companies that sell their products on Amazon.com and then grows those brands, raised $250 million last week.

Outdoorsy, which runs a platform that lets owners of RVs, motorhomes, camper vans and trailers rent out their vehicles to travelers, raised $120 million last month.

In May, Workrise, which operates a platform for skilled trades, raised $300 million. In April, Arrive Logistics announced a $300 million infusion to expand its freight brokerage business.