Logistics startup ShipBob secures $4M in Series A funding

ShipBob will use the funding to escalate its geographical footprint, strengthen the size of the team and develop more product

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Chicago-based Logistics and Shipping startup, ShipBob, has closed $4 million in a Series A funding round led by Hyde Park Venture Partners (HPVP).

Apart from HPVP, other investors include Hyde Park Angels, FJ Labs, Recruit Strategic Partners, FundersClub, Startcaps Ventures, NFQ Capital, Network Ventures, Bluestein and Associates, Service Provider Capital, Russell Long, SV Angel and Y Combinator, which ShipBob went through in 2014.

The funding will be used to escalate its geographical footprint, strengthen the size of the team and develop more products.

ShipBob facilitates an online platform for e-commerce companies, providing them an end to end product management including inventory management, customer communication and shipping on an integrated dashboard. The company claims that it has online e-commerce platforms, including eBay, Shopify, Amazon, and Magento as its clients. ShipBob’s duty is to arrange the pickup whenever a merchant makes a sale.

ShipBob Co-founder Dhruv Saxena stated:

“My co-founder and I were running an e-commerce store ourselves and every time we got an order, we had to go to the post office and stand in line to mail our items. We realized shipping was broken for SMBs and there were no good solutions out there. That’s when we decided to start ShipBob. We’ve grown rapidly and this round of funding will enable us to scale up to meet demand, to take the pain out of shipping for more small businesses and help them scale as they grow.”

Ira Weiss, from Hyde Park Venture Partners (HPVP) stated, “In an e-commerce world where shipping speed and cost efficiency matter, ShipBob has an innovative approach to helping small and medium e-commerce companies provide efficient and cost-effective logistics. Merchants need better tools to take the pain out of fulfillment and ShipBob’s platform makes the entire process simple and straightforward. The opportunity is huge and we are excited to see ShipBob realize its global vision.”

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