ShipBob, a cloud-based logistics platform, has announced $200 million in funding, achieving unicorn status with their valuation more than doubling since their Series D round in September 2020.
ShipBob is designed for small and medium-sized ecommerce businesses, providing them with fulfillment capabilities.
The Series E financing was led by Bain Capital Ventures, who led ShipBob’s Series B round in June 2017, with participation from prior investors including SoftBank, Menlo Ventures, Hyde Park Venture Partners, Hyde Park Angels and Silicon Valley Bank.
In September 2020, ShipBob raised $68 million in a Series D round led by SoftBank Vision Fund 2.
“Seven years ago, we found it was difficult as a small—but growing—ecommerce business owner for us to provide our customers with a delightful shipping experience. ShipBob was founded and built to solve that challenge,” said Dhruv Saxena, CEO and co-founder of ShipBob. “We are extremely proud that more than 5,000 businesses use ShipBob for all of their ecommerce fulfillment needs today, and look forward to continuing that mission as shifts to digital continue to accelerate across our customers’ industries. As we increase our international reach, omnichannel partnerships and B2B capabilities, it still feels like day one for us.”
“The fastest growing ecommerce brands recognize that world-class fulfillment increases revenue and builds customer loyalty,” added Ajay Agarwal, Partner at Bain Capital Ventures and a member of ShipBob’s board of directors since June 2017. “These leading brands are partnering with ShipBob as the one-stop cloud logistics platform to manage and deliver their merchandise to customers around the world. ShipBob’s torrid growth rate and impeccable levels of customer success motivated us to double down and lead this round.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.