Shipwell,
the software platform for managing trucking logistics, has raised $35
million and is expanding its suite of services to become a full-service
hub for logistics management.
The new round led by Georgian Partners comes as the company has just expanded its suite of tracking and management tools to integrate with FedEx’s
parcel shipping services. The company also is planning an expansion
into ocean shipping in the coming months, according to chief executive
Gregory Price.
The Austin-based company works with multiple service providers — including the logistics services unicorn Flexport
— but operates as a marketplace for shippers to connect with freight
companies and online tools to manage those shipments. In effect, the
company is pitching to any retailer or outlet a version of the
proprietary logistics management toolkit that has made Amazon so
successful.
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Since its last round of funding a year ago, Shipwell
has grown to service more than 4,000 customers per month with supply
chains spanning multiple geographies. The company now operates in
Canada, Mexico and even across Europe.
With the new funding the
company intends to open new offices in Chicago and expand to a second
location in its home base of Austin.
The company has also launched
a new application program interface that allows it to help manage
logistics through other modes than just trucking. Price says the company
has about 20 companies beta-testing the tool, which is set to launch
publicly in November.
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Source. TechCrunch, Johnathan Schreiber, October 24, 2019
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This post was brought to you by Woewoda Communications, your partner in the venture capital, private equity and startup markets; offering strategic communications, public relations & investor relation services to Canadian VCs, PEs, Angels, Endowments/Trusts, Family Offices, and Canadian startups involved in ICT, IoT, blockchain, life sciences, healthcare, agribusiness, clean energy, fintech, AI and robotics.
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