ShipBob, a Chicago, IL-based provider of a logistics and shipping software platform for e-commerce companies, closed a $4m Series A round of funding.
The round was led by Hyde Park Venture Partners (HPVP).
The company intends to use the funds to increase its geographic presence, with plans to launch in an additional city later this summer, expands its team, and further develops the product.
Led by Dhruv Saxena, ShipBob provides a free online platform that manages the entire fulfillment process from end to end, combining order management, inventory management, customer communication, and shipping in a single web dashboard. The service professionally packs items and optimizes savings for businesses by comparing USPS, UPS, FedEx & DHL for the lowest shipping rate, ships anywhere in the world, fills out all the customers’ paperwork, and offers warehousing, in order to allow customers to store inventory there. It integrates with the most popular online e-commerce platforms, including eBay, Shopify, Amazon, and Magento. When a merchant makes a sale.
The company, which participated in Y Combinator in 2014, is active in Chicago and and New York.
In addition to HPVP, other investors in the company include Hyde Park Angels, FJ Labs, Recruit Strategic Partners, FundersClub, Startcaps Ventures, NFQ Capital, Network Ventures, Bluestein and Associates, Service Provider Capital, Russell Long, and SV Angel.