Ecommerce fulfilment company ShipBob Raises $40 Million
Ecommerce fulfilment company ShipBob has announced $40 million in new funding. The new capital will enhance the company’s capabilities to bring same-day shipping to more customers, fuel growth and expand its software platform. The Series C financing was led by Menlo Ventures with additional participation from existing investors Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator.
They have multiple fulfilment centres across the USA in including in Chicago, Dallas, Los Angeles, New York, and San Francisco and provide same-day delivery at ground shipping pricing. They say they have shipped more than four million packages to-date and expanding the business at 300% year on year and reached eight figures in revenue last year. They have have 400 employees.
This investment from Menlo Ventures will be used to scale up operations around all fulfilment centers, along with new hires needed to provide additional engineering, client success, sales and marketing support. We are committed to providing ecommerce businesses the ability to build a direct relationship with their customers by selling on the channels they want and not having to worry about fulfilment.
– Dhruv Saxena, co-founder and CEO, ShipBob
Founded in 2014, ShipBob was launched through Y Combinator by Saxena and co-founder Divey Gulati. ShipBob’s solution focuses on the needs of direct-to-consumer retail brands and their requirement to manage inventory and ship orders safely and quickly while maintaining their brand identity.