Chicago-based ShipBob, a startup that helps e-commerce companies handle shipping and logistics, just raised some serious cash to expand and help more businesses ship their stuff.
ShipBob announced Tuesday that it has raised a $17.5 million Series B round led by Bain Capital Ventures, with participation from Hyde Park Venture Partners, FundersClub, Hyde Park Angels and FJ Labs LLC.
The startup says it offers "Amazon-scale logistics" to thousands of e-commerce companies, mostly startups and small businesses. Using its fullfilment centers in Chicago, Los Angeles, New York and San Francisco, ShipBob helps companies offer same-day fulfillment and 2-day shipping.
Since launching in 2014, ShipBob says it has shipped more than two million packages, and its business is growing 500 percent year over year.
"The investment from Bain Capital Ventures gives us the ability to scale faster and serve the needs of this rapidly growing e-commerce market," Dhruv Saxena, co-founder and CEO of ShipBob, said in a statement. "We are raising the bar for what best-in-class service means in the shipping and logistics space. We will continue to innovate and expand to serve e-commerce businesses across the country."
ShipBob was founded out of Silicon Valley accelerator Y Combinator, and the founders decided on Chicago as the place to grow their business. It was a move that few YC startups would have made, but a logical move for a company focused on shipping and logistics.
ShipBob has 125 employees, and it has raised over $23 million since it launched.
Image via ShipBob
