ShipBob closes new US$200m funding round

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Cloud-based logistics platform ShipBob has announced US$200m in funding, more than doubling its valuation since a Series D round in September 2020 and achieving unicorn status.

The company’s offering is designed for small and medium-sized e-commerce businesses, providing them with fulfilment capabilities. After growing profitably to close out 2020, the company says the new capital will bring its solution to more customers, enable expansion of its software platform and scaling of its global fulfilment network, and bolster its omnichannel commerce capabilities.

The Series E financing was led by Bain Capital Ventures, which 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, the company raised US$68m in a Series D round led by SoftBank Vision Fund 2. Since then, it has more than doubled its fulfilment center network, growing from 10 to 24 facilities, including its first in the UK and Australia. In addition, ShipBob has expanded its technology to open up how and where their customers can sell.

“Seven years ago, we found it was difficult as a small – but growing – e-commerce 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 their e-commerce fulfilment needs today, and look forward to continuing that mission as shifts to digital continue to accelerate across our customers’ industries,” he continued. “As we increase our international reach, omnichannel partnerships and B2B capabilities, it still feels like day one for us.”

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Lawrence has been covering engineering subjects – with a focus on motorsport technology – since 2007 and has edited and contributed to a variety of international titles. Currently, he is responsible for content across UKI Media & Events' portfolio of websites while also writing for the company's print titles.

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