Shipwell raises USD 35 Million in Series B Funding

By StartUp City | Tuesday, October 29, 2019

The company allows users to manage their parcel and freight shipping in one centralized platform. As a result of the new compatibility, Shipwell is now offering early access to FedEx shipping alongside its freight offerings in the cloud-based platform, taking a step toward achieving its vision of automating, centralizing, and connecting supply chains around the world

FREMONT, CA: Texas-based intelligent supply chain management solution provider Shipwell raised USD 35 million in a Series B funding round led by Georgian Partners, with participation from Fifth Wall, Global Founders Capital, Box Group, and Aspect Ventures. With this round of funding, the total capital raised has reached USD 47 million, and the company plans to increase its employee headcount and open its second office in Chicago, Illinois.

Shipwell also launched parcel shipping services along with the traditional freight shipping modes. The company, now FedEx compatible, allows users to manage their parcel and freight shipping in one centralized platform. As a result of the new compatibility, Shipwell is now offering early access to FedEx shipping alongside its freight offerings in the cloud-based platform, taking a step toward achieving its vision of automating, centralizing, and connecting supply chains around the world.

"Shipwell is taking a huge step forward today with our announcement of Series B in addition to FedEx compatibility. With Georgian Partners, Shipwell is poised to continue delivering a product that makes supply chain management automated, simplified, and cost-effective," Greg Price, CEO, and Cofounder, Shipwell, said.

The company raised USD 12 million in its Series A funding round held in October last year. Since then, the company has grown shipments on the platform by 600 percent from over 4000 monthly users of the platform, generating over 100 million rows of location data every day. The software platform company earned 'Best in Show Demo' at MarkerWaves18, and was chosen by the Austin Chamber of Commerce to be on its A-List of innovative companies in the mid-size company category in May 2019.

"Shipwell is in an incredibly unique position to provide mass optimization and automation to all modes of shipping. We're excited to partner with the team as they continue to bring transparency and efficiency to the logistics market," said Tyson Baber, Partner at Georgian Partners. The company also launched a new application program interface that allows it to help manage logistics through other modes than just trucking. Price says the company has about 20 companies beta-testing the tool, which is set to launch publicly in November.

"This is just the beginning. We've brought on experienced leadership talent - including Kris Glotzbach, Shipwell CRO, and veteran at UberFreight and CH Robinson to help position Shipwell as a leader in the supply chain management space," Jason Traff, President, and Cofounder, Shipwell, said. "In the coming months and years ahead, our focus on delivering a platform with layers of sophistication built on machine learning and AI will take our customers to the future of supply chain execution."

Weekly Brief