Founded in 2014 and spun off from logistics company Quiet Logistics, Locus Robotics is a private warehouse-automation startup valued at almost $2 billion. But who owns this robotics trailblazer?
The Creators: Bruce Welty & Mike Johnson
Locus Robotics was founded by two tech and warehouse veterans, Bruce Welty and Mike Johnson. They were the co-founders of Quiet Logistics in 2009 and then launched Locus in 2014 as an in-house automation option for their fulfillment operations. Locus became an independent company by 2015.
Bruce Welty served as Locus CEO and Chairman. Before Locus, he was a co-founder at AllPoints Systems and Quiet Logistics. Researchers have credited 11 patents to him, and have labeled him a “serial entrepreneur” in the field of warehouse systems.
Mike Johnson, the President and COO, co-founded Locus alongside Welty, and also co-founded Quiet Logistics.
Faith in what they learned, and in the early ownership stakes, have been the touchstones of Locus’s founding vision.
The Leadership: Rick Faulk
Rick Faulk has served as CEO of Locus Robotics since 2016. Characterized as a lead owner, he is a senior manager with ownership. Under the direction of Faulk, the company grew internationally, won major contracts, became a unicorn in 2021, and was valued at $2 billion after its Series F funding in late 2022.
Faulk’s leadership has been pivotal. Locus now puts thousands of robots to work at hundreds of sites, with its software-first “robots-as-a-service” business model.
Venture and Institutional Investors
Locus Robotics has a number of large backers across multiple rounds, having raised well over $416 million. Notable investment partners include:
• G2 Venture Partners
• Goldman Sachs
• Tiger Global
• BOND
• Scale Venture Partners
• Prologis Ventures
These have bought a lot of the company’s stock. Ownership percentages are not disclosed, however, their investment and continued engagement are indicative of the company’s valuation and strategic trajectory.
Ownership Breakdown: Shared Vision
There isn’t an exact cap table available for the company, however the ownership of Locus is believed to include:
• The Owners (Bruce Welty & Mike Johnson) – significant founder equity.
• Executive team (including Rick Faulk) – the people responsible for running the day-to-day.
• Financial sponsors – capital and strategic direction source.
• Employees and early investors – who probably have a smaller stake built up through stock options or funding rounds.
This co-mingle of founder intuition, operational leadership, and venture capital provides Locus with innovation, stability, and growth opportunity.
Why Ownership Matters
The ownership is important for determining the shaping of an organization. Founders remaining part of the company creates good vision and continuity. Leadership investment, especially from an experienced CEO like Rick Faulk, means the management team is focused on the long term. And then, institutional investors can bring capital, knowledge of industry, and global networks for scaling up faster.
Have Locus Robotics Spread Across?
For its part, Locus Robotics is set to keep growing in new regions — especially Asia and Europe. Independents’ mobile robots (AMRs) are becoming increasingly critical in e-commerce, retail and 3PL. With an IPO or acquisition potentially looming, the company is well-run, well-funded and still private.
Final Take
Locus Robotics is a venture-backed company, backed by a group of the leading investors in the logistics and last mile delivery space. This robust and diverse company ownership has the company well positioned to be a leader in the future of warehouse automation through innovation, scalability, and beneficial partnerships.