ShipBob raises $200 million in series E funding, led by Bain Capital Ventures, valuing the ecommerce logistics platform well over $1 billion

ShipBob, a cloud-based logistics platform announced $200 million in funding, achieving unicorn status with their valuation more than doubling since their Series D round in September 2020. ShipBob is designed for small and medium-sized ecommerce businesses, providing them with world-class fulfillment capabilities.

After growing profitably to close out 2020, the new capital will bring ShipBob’s solution to more customers, expand their software platform, scale their global fulfillment network and bolster their omnichannel commerce capabilities.

The Series E financing was led by Bain Capital Ventures, who led ShipBob’s Series B round in June 2017, with participation from prior investors including SoftBank, Menlo Ventures, Hyde Park Venture Partners, Hyde Park Angels and Silicon Valley Bank.

In September 2020, ShipBob raised $68 million in a Series D round led by SoftBank Vision Fund 2. Since then, ShipBob has more than doubled their fulfillment center network, growing from 10 to 24 facilities, including their first facilities in both the United Kingdom and Australia.

In addition, ShipBob has expanded their technology to open up how and where their customers can sell. ShipBob’s app store now has over 40 integrations, including new 2021 partnerships like Walmart as their TwoDay delivery partner, Shopify Plus as their only certified global fulfillment partner and Pachama, which allows ShipBob customers to offset emissions and be carbon-neutral on all shipments.

“Seven years ago, we found it was difficult as a small—but growing—ecommerce business owner for us to provide our customers with a delightful shipping experience. ShipBob was founded and built to solve that challenge,” said Dhruv Saxena, CEO and co-founder of ShipBob.

“We are extremely proud that more than 5,000 businesses use ShipBob for all of their ecommerce fulfillment needs today, and look forward to continuing that mission as shifts to digital continue to accelerate across our customers’ industries. As we increase our international reach, omnichannel partnerships and B2B capabilities, it still feels like day one for us.”

“The fastest growing ecommerce brands recognize that world-class fulfillment increases revenue and builds customer loyalty,” said Ajay Agarwal, Partner at Bain Capital Ventures and a member of ShipBob’s board of directors since June 2017. “These leading brands are partnering with ShipBob as the one-stop cloud logistics platform to manage and deliver their merchandise to customers around the world. ShipBob’s torrid growth rate and impeccable levels of customer success motivated us to double down and lead this round.”