Looking to become the central hub for logistics management, Shipwell raises $35 million – TechCrunchOctober 24, 2019
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 is also 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 a version of the proprietary logistics management toolkit that has made Amazon so successful, to any retailer or outlet.
Since its last round of funding a year ago, Shipwell has grown to service over 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 which 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.