On Average, Shippo Customers Grow 71 Percent Year-Over-Year in Volume Shipped

SAN FRANCISCO, Oct. 31, 2017 /PRNewswire/ -- Shippo, a leading shipping platform for business, today celebrates 71 percent year-over-year growth per customer, on average.* Concurrent with the announcement, the company closed a $20 million Series B round of financing led by Bessemer Venture Partners, with participation from Union Square Ventures, SoftTech VC, VersionOne Ventures, and 500 Startups. The round brings the company's total funding to $29 million.

It's taken 20 years for e-commerce to become a $1.9T industry and it will take just three more for it to double to $4T. It is growing so fast that delivery infrastructure has a massive gap to fill in order to keep pace. Businesses are struggling with a heavy upfront investment of time and resources to integrate with multiple carriers, working against consumer expectations of "fast and free" shipping.

By working with Shippo, customers gain instant access to the entire shipping ecosystem to quickly scale their business. Today, Shippo has more than 15,000 customers including eBay, Tuft & Needle, GOAT, Ipsy, Loot Crate and Marley Spoon by Martha Stewart.

"Shippo customers are nearly doubling their shipping volume with us in any single year," said Laura Behrens Wu, chief executive, and co-founder of Shippo. "Our customers are able to focus on creating a unique brand experience for their customers, while we handle shipping by providing the best delivery option—always. We couldn't be happier with the funding we're announcing today, from a team who believes in our vision. This funding will help us deliver more innovative solutions and bottom-line growth to our customers who want to ship both domestically and internationally."

*Year-over-year growth is the compound growth rate in labels generated per active Shippo customer over the last three years. The average label count growth per customer is calculated by the total label volume divided by the total number of active users.

About Shippo
Shippo provides a web app and multi-carrier API to help merchants and platforms get real-time rates, print labels, automate international paperwork, track packages and facilitate returns. Shippo provides the platform to help businesses succeed through shipping. Shippo's investors include Bessemer Venture Partners, Union Square Ventures, SoftTech VC, 500 Startups, FundersClub and many others.

Contact:
Helen Phung
[email protected]

SOURCE Shippo

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