ShipBob raises $40 million funding

In an attempt to compete with, e-commerce fulfilment start-up ShipBob has announced it has raised some $40 million in new funding to expand its warehousing and technology services offered to its client small and medium-sized brands.

The Wall Street Journal reported that 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.

Launched in 2014, ShipBob now operates five warehouses in major cities across the United States where it fulfils customer orders within 1 to 2 days for more than 2000 client internet retailers. According to the company it is shipped more than 4 million packages for clients including Interior Define, I Heart Keenwah, baKblade, and Creepy Co.