Each year, OBJ recognizes the region’s rapidly growing firms with its Fastest Growing Companies awards. The aim is to honour the city’s top performers for substantial, sustainable and profitable growth. Recipients are ranked by their three-year revenue growth. They must have had revenues of at least $100,000 in the first of those three years under consideration. Revenues must have risen to at least $500,000 in their most recent fiscal year.
When Ottawa-based last-mile delivery service GoFor closed its second multimillion-dollar funding round of 2020 back in December, founder Brad Rollo called a VC’s prediction that the company would become a billion-dollar enterprise “conservative.”
As revenues keep rising in 2021, so does the CEO’s confidence in the firm’s future.
“GoFor, without a doubt, has the potential to be a many billion-dollar company,” he says.
Some might call that hubris, but Rollo doesn’t care.
GoFor – which provides just-in-time delivery services for the likes of home reno giant Home Depot and paint manufacturer Sherwin-Williams and makes software that helps customers fill last-minute orders – is firing on all cylinders in its fifth year.
As online commerce boomed during the pandemic, the company’s revenues skyrocketed 1,200 per cent from February to December, while its headcount has tripled in the past 12 months.
Meanwhile, investors scrambled to grab a stake in what’s become one of the hottest logistics operations in North America, resulting in two major funding rounds that injected nearly $30 million into GoFor’s coffers to help fuel its breathtaking ascent.
It’s enough to make even the most seasoned entrepreneur’s head spin, but Rollo – a former varsity basketball player at Laurentian University who says he relishes competition – seems to be taking it all in stride.
Now operating in 75 cities, GoFor is aiming to have drivers in place in up to 150 urban centres throughout Canada and the U.S. by the end of the year. It’s also partnering with FedEx and Purolator to provide customers with a full range of delivery services.
“The winner in this space is not going to be just a last-mile delivery company,” Rollo says. “They’re going to have other logistics options. We are building that out right now.”