
p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Helvetica; color: #000000} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; font: 12.0px Helvetica; color: #000000; min-height: 14.0px} span.s1 {text-decoration: underline}
Two e-commerce fulfillment startups gained significant venture capital backing today when ShipHero announced a $50 million round and Sendle raised $35 million, both citing hot demand from retailers trying to meet consumer demands in the pandemic-driven e-commerce boom of the past year.
New York-based ShipHero, which defines itself as an e-commerce fulfillment technology and outsourced fulfillment provider, said the backing marked its first institutional funding and was led by high-growth tech investor Riverwood Capital. The company took on outside backing after its revenue tripled in 2020 alone amid growing demand on e-commerce customers during the pandemic, the firm said.
ShipHero now plans to expand its nationwide network of U.S. warehouses from three to 10 by the end of 2021. The firm says it uses those facilities to offer outsourced fulfillment service to direct to consumer (DTC) brands and merchants. It also provides a warehouse management software-as-a-service (SaaS) platform for companies that want to ship from their own facilities.
Prior to the investment from Riverwood, ShipHero had avoided taking venture capital or strategic funding, CEO and Founder Aaron Rubin said in a release. “We have always been focused on long-term impact and on building a solid software-driven and high-quality foundation, and for years staying independent gave us the most flexibility in how we achieve that impact,” Rubin said. “Our market opportunity has expanded significantly, and we have a great opportunity to accelerate our offering to clients as they digitize their businesses. The industry has raised a lot of capital recently and we were approached by high quality investors.”
In an unrelated round, Australia-based Sendle raised a $35 million “series C” backing to expand further in the U.S. The funding round was led by Afterpay-backed AP Ventures alongside returning investors including Federation, Full Circle, and NRMA.
Sendle says it is a 100% carbon neutral shipping carrier designed for small businesses, and that it use the money to drive investment in building out its U.S. network of logistics, delivery, and technology partners. Like ShipHero, the startup saw record growth as Covid-19 accelerated the shift to e-commerce, including a tenfold increase in 2020 compared to the previous year for its small business package volumes in the U.S.
“Package delivery is the backbone of today’s e-commerce ecosystem,” Hein Vogel, CEO of AP Ventures, said in a release. “As ever-more people shop and sell online, small business shipping will only grow in importance. For small sellers, it’s a critical part of being able to compete on a level playing field.”
8 comments
733771 979893This internet site is generally a walk-through you discover the information it suited you about it and didnt know who require to. Glimpse here, and you will definitely discover it. 816355
989768 37143I gotta bookmark this site it seems really useful . 808539
986624 718466These kinds of Search marketing boxes normally realistic, healthy and balanced as a result receive just about every customer service necessary for some product. Link Building Services 860042
Your style is so unique compared to other folks I have read stuff from.
Thank you for posting when you’ve got the opportunity, Guess I will just book mark this site.
I visited various web sites but the audio quality
for audio songs existing at this website is in fact marvelous.
Hello, Neat post. There’s an issue with your site in internet explorer, could check this?
IE still is the market leader and a huge section of other people
will pass over your magnificent writing because of this problem.
467117 470364Id should verify with you here. Which isnt something I often do! I take pleasure in reading a post that might make men and women feel. In addition, thanks for allowing me to comment! 699246
659636 455798Its superb as your other posts : D, regards for posting . 887102