Saltbox Raises $35M in Series B Funding

Saltbox

Saltbox, an Atlanta, GA-based flexible co-warehousing and small business logistics company, raised $35M in Series B funding.

The round was led by Cox Enterprises and Pendulum with participation from Playground Global, XYZ Capital, Fundrise, Kapor Capital, Wilshire Lane Capital, Colliers, Lincoln Property Company, Flexport and Overline.

The company intends to use the funds to develop the core technology stack powering its end-to-end logistics platform for small and growing ecommerce businesses.

Led by CEO Tyler Scriven, Saltbox solves the parts of running an ecommerce business with human-centric logistic solutions. With a purpose-built network of flexible warehouses in major metropolitan areas, fulfillment centers and on-site services across the country, the company addresses the most critical challenges ecommerce entrepreneurs face when starting, growing, and scaling their businesses. Over 500 members run their business on the platform.

In 2022, Saltbox more than doubled its growth, expanding its flexible warehouse network to ten locations, including new co-warehousing locations in¬†Alexandria, Virginia;¬†Duarte, California;¬†Carrollton, Texas;¬†Arden Hills, Minnesota; and a second location in¬†Atlanta’s¬†Upper Westside neighborhood to support its flagship facility. The company also opened its first-ever fulfillment hub in¬†Dublin, Ohio¬†‚Äď a strategic location in the¬†Columbus, Ohio¬†market that allows members to reach 67% of the total U.S. population via 2-day shipping. Later this year, Saltbox¬†plans¬†to open locations in two new cities:¬†Tempe, Arizona¬†and¬†Doral, Florida, with additional plans to open a second¬†Florida¬†location early next year in¬†Tampa, Florida.

Alongside the investment, Saltbox also announces the addition of both Andrew Davis, Senior Vice President of Strategy for Cox Enterprises, and Robbie Robinson, CEO and Co-Founder of Pendulum, to its Board of Directors.

FinSMEs

29/11/2022