Online shipping platform Shippo announced today it has raised an additional $50 million in funding, valuing the company at $1 billion.
Bessemer Venture Partners (BVP) led this new round of funding with Talia Goldberg and Jeremey Levine leading the deal. Goldberg and Levine have been involved with Shippo since its series B funding round in 2018, and Levine has served on the company’s board since then.
“Shipping is a very offline-centric industry. E-commerce merchants are faced with customer expectations that are moving towards faster and faster shipping for free. Existing shipping providers have been at capacity trying to keep up with the significant increase of volumes coming from ecommerce shipping. Shipping shouldn’t be this hard. We at Shippo are the shipping team for more than 100,000 merchants, enabling them to ship at scale. In a world where we are successful, every merchant can ship like Amazon without having to become logistics experts.”Laura Behrens Wu, co-founder and CEO of Shippo
Last year, Shippo said it had begun emerging as a category in the shipping API space. This additional capital will help the company reach its vision faster.
Recently, the company partnered with CommentSold, a unique “comment selling“ online commerce platform, to power the native shipping capabilities for its merchants. Shippo also works with eBay Canada to enable sellers on the Canadian-based marketplace to offer affordable and easy-to-use shipping solutions.
In addition to the funding announcement, Shippo also reiterated that it is hiring at its Austin and San Francisco offices and offering a remote option for many roles.
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