ShipMonk provides an API-driven e-commerce fulfillment and inventory management platform that integrates with major shopping carts and marketplaces to automate order import, inventory tracking, and shipping optimization. Its U.S. warehouse network offers automation, secure storage, and locations positioned for two-day national and next-day metro delivery, helping customers save up to 50% of in-house fulfillment costs. The company serves primarily B2C direct-to-consumer brands and is building capabilities for B2B fulfillment as customer needs evolve. ShipMonk doubled annual revenue in 2020, grew its customer base 100%, and saw order volumes surge more than 115% year-over-year at its November peak. Founded in 2014 and headquartered in Fort Lauderdale, FL, it employs about 1,000 people and plans to increase headcount by 50% by the end of 2021. ShipMonk is increasing R&D investment and accelerating international expansion, including a flagship European fulfillment center planned for mid-2021. ShipMonk provides shipping and logistics services for SMBs and mid-market direct-to-consumer companies, including order management, transportation management, reverse logistics and integrations with shopping carts and marketplaces like Shopify. The company operates nearly 1 million square feet of warehousing and manages roughly 60,000 SKUs, typically handling about 50 different items per customer. ShipMonk serves a mix of customers, with largest accounts booking $150M–$250M in revenue while most customers generate $1M–$10M annually. The business grew from a small 15,000 sq ft operation to a national logistics service and claims customers can save up to 50% on operational costs through its platform. ShipMonk was profitable from the outset and reported taking in upwards of $140 million in revenue in its recent strong year. The company plans to use new capital to upgrade automation, increase staffing, and pursue international expansion. ShipMonk provides multi-channel order fulfillment services and inventory management software with API integrations that sync directly to customers’ marketplaces and shopping carts to automatically import and process orders. The company operates two bicoastal warehouse locations and offers product visibility and order controls through its software. Led by CEO Jan Bednar, ShipMonk has over 200 employees across facilities in the Fort Lauderdale and Los Angeles areas. It closed a $10M Series A financing to fund continued expansion. The company plans to use the proceeds to expand its footprint, including adding a New York location in 2019. The business targets small and midsized (SMB) e-commerce companies and combines software with fulfillment services.

Total raised

$365M

Funding rounds

3

Latest round

Equity

Latest activity

Jan 2021