ShipBob, a Chicago, IL-based technology company that streamlines fulfillment by bringing next-day and two-day shipping options to ecommerce businesses, raised $40m in Series C funding.
The round was led by Menlo Ventures with participation from existing investors Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator. In conjunction with the funding, Menlo Ventures partner, Shawn Carolan, who co-led Menlo’s investment into Uber, will be joining the ShipBob board of directors.
The company intends to use the funds to enhance its capabilities to bring same-day shipping to more customers, accelerate growth and expand its software platform.
Founded in 2014 by Dhruv Saxena, CEO, and Divey Gulati, ShipBob powers logistics and fulfillment for thousands of ecommerce businesses, providing them with same-day delivery, making it affordable to offer an Amazon Prime-like experience, regardless of their size. The company uses proprietary software that combines order and inventory management, customer communication, predictive data and insights, as well as optimized shipping for ecommerce companies to allow customers to predict trends, shopping habits and geographic insights across multiple sales channels.
The software powers ShipBob’s multiple fulfillment centers across the country in major cities where their clients’ customers reside – Chicago, Dallas, Los Angeles, New York, and San Francisco.
The company, which has shipped more than four million packages to-date, has also grown its headcount to over 400 employees today.
ShipBob was launched through Y Combinator.