SoftBank Vision Fund leads $68m Series D funding in US-based ShipBob

Photographer: Kiyoshi Ota/Bloomberg

ShipBob, a US-based e-commerce enablement technology company has secured $68 million in its Series D round led by SoftBank Vision Fund, according to an announcement.

Existing investors including Menlo VenturesBain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels, and Y Combinator also participated in the round.

The new investment brings the company’s total funding to $130.5 million to date.

Founded in 2014 and incubated by Y Combinator, ShipBob claims to offer simple, fast, and affordable fulfillment for thousands of e-commerce businesses through their full-stack technology and 10 fulfillment centres across the US, Canada, and Europe.

Its solution focuses on the needs of direct-to-consumer retail brands, thereby helping them manage inventory and ship orders while maintaining their brand identity.

ShipBob integrates with all leading e-commerce platforms and marketplaces like Amazon, Walmart, Shopify, BigCommerce, Wix and Squarespace.

The firm said the new capital will help fuel growth, expand its software platform, and scale its global fulfillment network. Going forward, ShipBob expects to open two more US facilities in Q4 and another ten facilities across North America, Europe, Asia and Australia in 2021.

“Logistics is an enormous industry that has seen rapid growth alongside e-commerce adoption,” said Ervin Tu, Managing Partner at SoftBank Investment Advisers. “ShipBob is leveraging data and innovative technology and operations to grow its business and drive significant increases in revenue and profits. The company is on track to be the market-leading solution for SMB and larger merchants around the world.”

Tu will be joining the ShipBob board of directors.

In the e-commerce space, in July, SoftBank Group Corp. quietly sold an additional $2.2 billion stake in Alibaba Group Holding Ltd. as part of its fund-raising effort to pay debt and buy back its own shares.

Last year, its Latin American fund invested 580 million reais ($138 million) in e-commerce software provider VTEX, together with Brazilian funds Gavea Investimentos and Constellation Asset Management.

The SoftBank Vision Fund has invested in companies like Uber, Slack, ByteDance, Opendoor, Nvidia, Flipkart, Flexport, Doordash and Arm.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.