Warehouse Startup ShipBob Raises $17.5M To Expand Into More Cities
Warehouse startup ShipBob raised $17.5M in funding this week, led by Bain Capital Ventures, to expand its reach into additional markets.
The company manages e-commerce distribution centers in New York City, Chicago, San Francisco and Los Angeles, offering affordable same-day and next-day shipping for online sellers, the Wall Street Journal reports. While ShipBob’s customers are largely smaller e-commerce companies and startups that do not have the capital to operate their own distribution networks, the WSJ said companies of all sizes are turning to outside, third-party companies like this to help fulfill online orders as quickly as possible.
ShipBob will use the funds raised in this Series B round to expand into three more cities and build up its software to help retailers process orders faster and to distribute inventory more efficiently.