Shipwell, an intelligent supply chain management solution for shippers, 3PLs and carriers, has raised $35 million in a Series B funding round led by Georgian Partners, including Fifth Wall, Global Founders Capital, Box Group and Aspect Ventures.
"Shipwell is in an incredibly unique position to provide mass optimization and automation to all modes of shipping. We're excited to partner with the team as they continue to bring transparency and efficiency to the logistics market," says Tyson Baber, Partner at Georgian Partners.
It is one of Austin's largest funding rounds in 2019, bringing the company's total to $47 million raised. Shipwell plans to use the funds to expand employee headcount and open its second office in Chicago in 2020.
"This is just the beginning. We've brought on experienced leadership talent - including Kris Glotzbach, Shipwell CRO and veteran at UberFreight and CH Robinson to help position Shipwell as a leader in the supply chain management space," Jason Traff, President and Cofounder, Shipwell, says. "In the coming months and years ahead, our focus on delivering a platform with layers of sophistication built on machine learning and AI will take our customers to the future of supply chain execution."
The announcement comes as Shipwell releases parcel shipping alongside its traditional shipping modes. Shipwell is now FedEx Compatible, allowing users to manage their parcel and freight shipping in one centralized platform.
"Shipwell is taking a huge step forward today with our announcement of Series B in addition to FedEx compatibility. With Georgian Partners, Shipwell is poised to continue delivering a product that makes supply chain management automated, simplified, and cost-effective," Greg Price, CEO and Cofounder, Shipwell, says.