ShipHero, a NYC-based provider of an e-commerce fulfillment and logistics platform, raised $50m in funding.
Riverwood Capital made the investment.
The company intends to use the funds to accelerate its product roadmap and consolidate its leadership in enabling brands and mid-large merchants to manage their ecommerce shipping and fulfillment needs.
Led by CEO and Founder Aaron Rubin, and COO Maggie Barnett, ShipHero provides an e-commerce fulfillment technology and outsourced fulfillment platform for companies that want to ship from their own facilities, as well as an outsourced fulfilment service to DTC brands and merchants utilizing the company’s owned and operated facilities.
The business ships out of three warehouses strategically located across the US; that number is expected to grow to ten by the end of 2021.
ShipHero serves more than 5,000 mid-to-large brands and merchants, including several Fortune 500 customers.
The company now processes over $5 billion of ecommerce gross merchandise volume (GMV) annually, which is more than Shopify at the time of its IPO. Some notable customers include Universal Music Group and Canadian Tire.