HomeeCommerce NewsShippo, an IT e-commerce platform raises $45 million in funding

Shippo, an IT e-commerce platform raises $45 million in funding

Shippo is an American software company that helps e-commerce businesses, online marketplaces, and platforms integrate shipping with multiple carriers through their API and web application. Shippo’s multi-carrier shipping API services peer-to-peer marketplaces like Mercari the shipping backend and enable ultimate flexibility on the front-end for customized customer experience. The company has recently raised $45 million in new funding, according to a company blog, and now it is valued at $495 million.

The company made a statement where it announces the fact that this has doubled its valuation in just the last 12 months.

According to Shippo 2020 is a “year of massive growth” for the company and says that during that time, it was able to double the total shipping spend on its platform and add three times the amount of growth compared to other companies.

The blog goes on to say that Shippo has been dealing with a “remarkably offline problem” in shipping even as most of the world’s businesses are slowly shifting more towards e-commerce. Shipping has been faced with a number of steps — physically packing boxes, finding shipping providers, and completing last-mile delivery, usually by people in the real world — all of which are done in an offline-first manner. Hence the company is on the lookout to improve its working for everyone with numerous updates including an out-of-the-box shipping experience to make that a default feature for companies’ customers, and a boost to international carrier coverage, along with universal connectivity.

The company is also planning to expand its business. It had recruited 80 new employees last year and further plans to hire 150 additional employees. Shippo has also opened a hub in Austin in addition to the one which is in San Francisco.

“Our vision is to build Amazon Prime for everyone else. We want to put SMBs at a competitive advantage by setting a new bar for SMB shipping.” Rina Hurst, tthe chief business strategy also mentioned certain trends in shopping that contactless shipping is on the rise given the global pandemic situation.

Sanna Sharma
Sanna Sharma
Sanna Sharma is an emerging freelance content writer, specializing in content relating to e-commerce news. She is working with Ecommercenext.org currently. It is a platform that provides the latest e-commerce news, events, blogs, webinars, reviews, job postings, and analysis from around the world. She is a keen individual with competitive writing abilities and is always working on herself to become a better her.

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