Seattle-based logistics technology startup Shipium Corp. has raised a $27.5 million Series A round.
The funding, announced Thursday, will go toward hiring engineers and expanding Shipium's capabilities, the company said in a news release. The company has raised a total of $38.7 million since its founding in 2019.
"Modern technology that unifies decisions throughout the supply chain in service of those last-mile goals is the only way to compete for customer growth and loyalty," Shipium co-founder and CEO Jason Murray said in a news release. "This Series A funding indicates that the industry is understanding this. We're excited to extend our offerings to retailers in order to give consumers what they want."
On its website, Shipium has open roles in engineering, accounting and finance.
Shipium uses machine learning to help e-commerce clients offer better shipping experiences. According to Shipium, its technology can put inventory close to likely future buyers, model delivery estimates and help clients pick the right carrier. The company said in a release it is on pace to break 100 million shipments processed by the end of this year.
Murray spent about 19 years at Amazon before co-founding Shipium. Mac Brown, the company's chief technology officer and other co-founder, spent more than seven years at the Seattle-based e-commerce company Zulily.
Insight Partners led the Series A round. Insight's portfolio includes big, national names like Twitter, DocuSign and Shopify, as well as local tech companies like Smartsheet and Esper.
"The pandemic has accelerated e-commerce growth to unprecedented heights, but major retailers continue to grow in both revenue and market share, largely due to its superior shipping experience," Brad Fiedler, vice president of Insight Partners, said in a news release. "Jason, Mac, and the team's background positions them as the foremost experts on how to help the rest of the retail industry compete for customer growth and loyalty."
Logistics is an increasingly important focus for tech startups in the Seattle area. Seattle-based freight network startup Convoy, for example, has about 1,200 employees and raised $400 million in 2019. Seattle-based freight forwarder tech startup Logixboard, meanwhile, raised $32 million in January.
