Shipping startup Shippo closed a Series B round of about $20 million, and announced an increase of 71% in year-over-year growth per customer. This round puts the total founding of Shippo at $29 million, while they search for consolidation in a $1.9 trillion industry.
“Shippo customers are nearly doubling their shipping volume with us in any single year,” said Laura Behrens Wu, CEO and co-founder of Shippo to PR Newswire. “This funding will help us deliver more innovative solutions and bottom-line growth to our customers who want to ship both domestically and internationally.”
Shippo is currently one of eBay’s shipping contractors in the U.S. They recently scored a great deal with eBay Canada to power their shipments. The end goal of this startup is to help SMEs all over the world compete with Amazon. The San Francisco-based company works with Ipsy, Scheels, Tuft & Needle, and Martha Stewart’s brand Marley Spoon, and it also connects carrier platforms like FedEx, Deutsche Post, DHL to provide central dashboards to track orders.
Behrens Wu told Forbes that any further funds will go to continue marketing Shippo to medium-sized business and continue developing their technology. “What I love is hearing people come up with super creative items to sell online and being able to run a business,” she said.
Funding this Series B round come from Bessemer Venture Partners, Union Square Ventures, SoftTech VC, Version One Ventures, and 500 Startups. According to Shippo’s CEO, they weren’t contemplating any new rounds of funding, but where approached by Jeremy Levin, a partner at Bessemer Venture Partners. They used the opportunity to work with Levin due to his experience with Shopify, one of an array of companies searching to provide retail businesses with easy access to growth tools.