Every year since 2015, we have something to share about our rapidly growing portfolio named ShipBob that offers fulfillment services like the ones of Amazon and Walmart to all online stores at affordable prices. Last year, it was about ShipBob raising $4M in Series A and now it’s about going through Series B funding round led by Bain Capital Ventures to raise another $17.5M. ShipBob now owns four warehouses in Chicago, New York, San Francisco and Los Angeles to deliver orders anywhere in continental US within two days.
Bain Capital Ventures led the Series B funding, which also included participation from existing investors Hyde Park Venture Partners, Hyde Park Angels, FundersClub and FJ Labs.
Dhruv Saxena, ShipBob’s CEO and co-founder, said companies can get deliveries to customers faster if they’re shipping from small regional warehouses, rather than one central hub. He said companies can, in some cases, get orders to customers same-day or next-day.
“That can be a major factor for the e-commerce businesses ShipBob serves, which range from 150 orders a month to more than 10,000 a day”, Saxena said.
ShipBob charges sellers a prenegotiated fee per shipment, as well as a fee for storing inventory based on how much space items require. Sellers pay ShipBob $35 each time they send a shipment from the manufacturer, as well as $5 per month for bins of items and $40 per month for pallets of items.
Please read the full story at Chicago Tribune.