Empowering small online businesses to offer 2-day shipping like Amazon, ShipBob – a modern e-commerce fulfillment service provider has raised a whopping $40M in Series C funding round led by Menlo Ventures, with participation from Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator.
ShipBob was added to our portfolio in 2015. In 2016, it went for Series A and got $4M. Last year, it bagged $17.5M in Series B round. Adding the recent Series C amount, total funding amount obtained by ShipBob till date is $62.5M. These funding stats show a steady growth in ShipBob and we wish them best of luck with a successful future ahead.
The company was launched through Y Combinator in 2014 by CEO Dhruv Saxena and Divey Gulati, a pair of engineers that met after college.
“Once we graduated, we thought up this e-commerce store and we were able to automate basically everything in the operation except for shipping and logistics,” Saxena told TechCrunch. “We realized none of the existing solutions out there worked. So, we applied to Y Combinator with this idea that there has never been an easier time to start an e-commerce brand online and these brands need shipping, logistics and back office solutions.”
“We love how ShipBob lets smaller, creative merchants affordably offer fast shipping across the country,” Carolan said in a statement. “Customers want what they want, and they want it fast, and it takes serious technology to make it look easy.”
Please read the full story at TechCrunch.