FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–ShipMonk, a number one supplier of e-commerce success and know-how options, at present introduced a $65 million infusion of development fairness from Periphas Capital. The deal intently follows a $290 million development fairness spherical from Summit Partners, raised in December. ShipMonk’s whole funding now exceeds $365 million, together with earlier funding from SJF Ventures, Grotech Ventures and Provide Chain Ventures. The newest financing comes as the corporate additional accelerates its development and worldwide growth to assist extra prospects with new areas, expanded provider partnerships and know-how enhancements to its platform. Periphas Capital Managing Companion, Sanjeev Mehra, will be part of ShipMonk’s Board of Administrators.
Based on the Nationwide Retail Federation, e-commerce demand elevated by greater than 20% for the 2020 vacation season, accounting for upwards of $200 billion in spending, as droves of customers went on-line throughout the pandemic. On-line retailers, notably small and mid-sized companies (SMBs), scaling their companies seemingly in a single day, regarded to know-how to streamline the success and stock administration of their back-end enterprise operations. Towards this backdrop, ShipMonk’s annual income doubled in 2020, pushed by a 100% development in its buyer base and hovering order volumes that grew greater than 115% year-over-year at their November peak.
“The management workforce led by Jan Bednar has constructed a nimble and entrepreneurial tradition and are rising at a hyper-scale tempo,” mentioned Sanjeev Mehra, Managing Companion of Periphas Capital and new ShipMonk Board member. “We imagine ShipMonk advantages from three development curves: explosion in e-commerce, shopper choice for digitally native direct-to-consumer manufacturers, and a shift by SMBs to outsource logistics with know-how they’ll’t construct themselves.”
“Our know-how platform permits retailers to delegate the trouble of managing order success, monitoring stock all through warehouses, and coping with fluctuating transport circumstances to allow them to deal with scaling their enterprise,” mentioned ShipMonk Founder and CEO, Jan Bednar. “Working with ShipMonk means orders arrive whenever you say they are going to, which is at all times necessary, however notably so when a purchaser is relying on a present supply to have a good time a vacation or special day. We deal with each order as a vacation supply order.”
Buyer Expertise, Delivered
ShipMonk was based in 2014, by CEO Jan Bednar, impressed by a private want, as he skilled problem getting U.S. retailers to ship internationally to his native nation, the Czech Republic. ShipMonk’s proprietary e-commerce administration platform solves a variety of vital ache factors for digitally native e-commerce manufacturers by offering:
- Seamless order integration, stock and warehouse administration, and transport optimization
- The creation of automated, low-cost e-fulfillment options with excessive buyer satisfaction and excellent metrics
- World attain, enabling retailers to ship gadgets and repair demand world wide
- Small companies the flexibility to compete with larger, extra established retailers
In the present day, ShipMonk’s API integrations sync with main purchasing cart and market platforms, corresponding to Shopify, to robotically import orders throughout each gross sales channel and assist a seamless and fast success expertise.
ShipMonk’s U.S. warehouse areas provide automation for faster success, extra correct merchandise choosing and safe storage of products. The warehouses are strategically positioned all through the USA to facilitate 2-day supply nationally and subsequent day supply to main metropolitan areas. Clients save as much as 50% of the operational prices in comparison with doing success in home. ShipMonk additionally extends its globally optimized transport provider community to retailers for added value financial savings. The corporate plans to increase internationally with the opening of its flagship European success middle in mid-2021.
Full Seasonality Assist, Numerous Transport Choices
ShipMonk’s platform scales for peak instances and volumes to fulfill elevated demand in November and December and manages reverse logistics for mandatory returns in January. Moreover, ShipMonk’s community of provider relationships delivers the range wanted to reduce supply delays. This season, ShipMonk helped its retailers navigate main transport provider lag instances by balancing throughput with regional suppliers. The platform permits retailers to supply a seamless returns expertise by integrating with main returns administration platforms corresponding to Returnly and Optoro. Automation shaves down the general value of transport and dealing with to assist retailers get the perfect margins as they scale operations and meet product demand.
“Beginning our e-commerce enterprise, the very last thing my co-founders and I needed to attempt to do on our personal was take care of the complexities of success. Having ShipMonk as our associate was important in supporting our speedy development, as our manufacturers went from $0 to $75 million in gross sales in lower than 24 months,” mentioned Kevin Gould, founder and CEO of Kombo Ventures, the buyer model incubator and holding firm that features Glamnetic (magnetic liner and lashes), Wakeheart (perfume and private care merchandise), and INH Hair (hair extensions and scorching instruments). “ShipMonk has scaled seamlessly together with us as we’ve grown and its know-how is the muse for serving to preserve tempo with the rising demand to precisely fill orders and ship our merchandise wherever they should go.”
In the present day, ShipMonk serves a rising base of B2C companies together with BrüMate, Liquid IV, Cuts Clothes, FEAT and CatLadyBox. As its prospects’ wants develop past direct-to-consumer, ShipMonk is growing merchandise and options to help within the evolving wants of business-to-business success. ShipMonk is rising its R&D in addition to hiring to make this potential. At the moment, the corporate employs 1,000 and intends to extend its headcount by 50% by the top of 2021.
“ShipMonk’s motto is to assist its prospects ‘stress much less and develop extra,’ and that is precisely what Periphas Capital can assist do for ShipMonk’s enterprise,” mentioned Periphas Capital’s Mehra. “We imagine ShipMonk is poised for vital development from current prospects who’re rising quickly themselves, a big pipeline of latest prospects, in addition to worldwide growth and omni-channel development.”
Goldman Sachs & Co. LLC acted as monetary advisor and Cooley LLP as a authorized associate to ShipMonk on this transaction. Kirkland & Ellis LLP acted as authorized advisor to Periphas Capital.
From its inception in 2014, ShipMonk has operated with a singular tenet: to assist small and medium-sized ecommerce companies scale by providing technology-driven success options that allow enterprise founders to dedicate extra time to the issues that matter most of their companies. Put merely, ShipMonk helps ecommerce firms stress much less and develop extra. Headquartered in Fort Lauderdale, FL, ShipMonk has greater than 1,000 workers throughout services in Fort Lauderdale, FL, Pittston, PA, Los Angeles, CA, and Prague, Czech Republic. Extra info is out there at www.shipmonk.com.
ABOUT PERIPHAS CAPITAL
Periphas Capital focuses on development and buyout investments in 4 main industries: Know-how Enabled Providers, Enterprise Providers, Shopper and Industrials. The principals of Periphas convey over 30 years of personal fairness investing expertise and have led 38 investments with mixture invested capital of $5 billion, together with earlier investments in SMB software program, logistics and distribution heavy companies corresponding to Nice Plains Software program, TVS Logistics, Amscan and Interline Manufacturers. For extra info go to: www.periphascapital.com.
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