E-commerce fulfillment startup ShipBob has raised $40 million in new funding to expand the warehousing and technology services it offers small- and medium-size brands to compete with Amazon.com Inc. [AMZN -0.75%]
The Chicago-based company, which launched in 2014, operates five warehouses in major cities where it fulfills customer orders within one to two days for more than 2,000 internet retailers. The company says it has shipped more than 4 million packages for customers that include Interior Define, I Heart Keenwah, baKblade, and Creepy Co.
The Series C funding round was led by Menlo Ventures and includes existing investors Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator. ShipBob has raised a total of $62 million but would not disclose its valuation.