One of our portfolio startups, ShipBob – an on-demand packing and shipping service has raised $4M funding in Series A round.
According to ShipBob co-founder Divey Gulati, whether they sell on eBay, or Etsy, or run their own e-commerce stores built with tools like Shopify, Bitcommerce or Woocommerce, small businesses can sign up for ShipBob, have the company store inventory for them, then when it’s ordered, pack and ship it to customers at the best possible rates.
Typically, a successful ecommerce business can save 20-25% in overhead by using ShipBob, Gulati claimed.
Customers pay ShipBob a small subscription fee for its service, and the cost of discounted postage.
ShipBob provides packaging design help, and sources packaging materials for customers. In some markets, ShipBob can pick up inventory from a store or other small business.
Hyde Park Venture Partners’ founder Ira Weiss said he expects ShipBob to use the new funding for hiring and to build warehouses in at least 5 new U.S. cities over the next year.
Please read full story at TechCrunch.