Fulfillment software and warehouse provider ShipBob just raised a $17.5 million Series B funding round.
This latest round was led by Bain Capital, which last month was the lead investor in fraud prevention tool Signifyd’s $56 million Series C funding round. ShipBob plans on using the money to upgrade its software and invest in growing its business.
ShipBob offers inventory management software designed to make it easier for retailers to manage inventory and returns. It enables a retailer client to manage inventory and sales on Amazon.com Inc., and also is designed to easily feed data into Shopify Inc.’s e-commerce platform. Retailers can use its software to compare shipping rates among major carriers to ensure they are shipping their orders at the lowest possible cost. ShipBob also offers warehousing services, with fulfillment centers in Brooklyn, Chicago, and Los Angeles, charging retailers by the number of SKUs housed or the size of products that they store in those warehouses.
“ShipBob has quickly developed a leadership position in the e-commerce market, offering a unique software-and-services platform that meets the need for fast fulfillment,” Bain Capital managing director Ajay Agarwal said.
According to CrunchBase, ShipBob has raised $22.5 million across four rounds of funding since launching in 2014.Favorite