AUSTIN, Texas, Oct. 24, 2019 /PRNewswire/ -- Shipwell, an intelligent supply chain management solution for shippers, 3PLs, and carriers, announced today that it raised a $35 million Series B funding round led by Georgian Partners, including Fifth Wall, Global Founders Capital, Box Group and Aspect Ventures.
It's one of Austin's largest funding rounds announced in 2019. To date, Shipwell has raised $47 million in funding and plans to expand employee headcount and open its second office in Chicago, Illinois in 2020.
The announcement comes as Shipwell releases parcel shipping alongside its traditional freight shipping modes. Shipwell is now FedEx Compatible, allowing users to manage their parcel and freight shipping in one centralized platform.
In conjunction with today's announcement, Shipwell is now offering early access to FedEx shipping alongside its freight offerings in the cloud-based platform, taking a step toward achieving its vision of automating, centralizing, and connecting supply chains around the world.
"Shipwell is taking a huge step forward today with our announcement of Series B in addition to FedEx compatibility. With Georgian Partners, Shipwell is poised to continue delivering a product that makes supply chain management automated, simplified, and cost-effective," Greg Price, CEO and Cofounder, Shipwell, said.
Since raising its Series A in October 2018, Shipwell grew shipments on the platform by 600% from over 4,000 monthly users of the platform that generate over 100 million rows of location data every day.
"Shipwell is in an incredibly unique position to provide mass optimization and automation to all modes of shipping. We're excited to partner with the team as they continue to bring transparency and efficiency to the logistics market," said Tyson Baber, Partner at Georgian Partners.
Shipwell earned Best In Show Demo at MarketWaves 2018, and was chosen by the Austin Chamber of Commerce to be on its A-List of innovative companies in the mid-size company category in May 2019.
"This is just the beginning. We've brought on experienced leadership talent - including Kris Glotzbach, Shipwell CRO and veteran at UberFreight and CH Robinson to help position Shipwell as a leader in the supply chain management space," Jason Traff, President and Cofounder, Shipwell, said. "In the coming months and years ahead, our focus on delivering a platform with layers of sophistication built on machine learning and AI will take our customers to the future of supply chain execution."
To learn more about Shipwell's Series B round, FedEx Compatibility, and more, visit Shipwell.com/Series-B