Shyp operates an on-demand shipping service that sends couriers to pick up packages and returns from customers, with mobile vans acting as a secondary tier to collect packages from couriers. The company launched a beta service in Los Angeles covering roughly 70 square miles in neighborhoods including Santa Monica, Venice, West Hollywood, parts of Beverly Hills, and downtown. Shyp has been collecting thousands of emails and ZIP codes from interested users to prioritize initial coverage areas and guide rollout. The LA launch is being phased over several weeks, with new customers added as courier and van placement is optimized. Operationally the company arranges couriers to cover specific local areas to avoid traffic and improve pickup efficiency. Shyp provides an app that allows users to snap a photo of items they want to ship and request a pickup; a Shyp driver, called a “Hero,” picks up items, packs them and sends them using the most reliable option. The service promises pickups within 20 minutes and is currently available in San Francisco. The company plans geographic expansion into New York City and will use the new funding to expand the team for product development. Founders are Kevin Gibbon, Joshua Scott and Jack Smith. The company previously raised a $250K seed round in September 2013. The announcement notes a board addition as part of the financing. Shyp provides a mobile app and pickup service that lets users photograph an item, enter pickup and destination addresses and service level, and schedule a driver to collect the item. Drivers take items to Shyp's local warehouse where the company boxes them and determines the best carrier—UPS, FedEx, DHL, or USPS—based on cost, speed, and reliability. Packaging materials are included in the service and Shyp charges a $5 pickup fee in San Francisco plus postage. The company offers insurance up to $1,000 per item. After months in beta, Shyp opened the service to all San Francisco users and promoted a $15 first-shipment discount to TechCrunch readers. Shyp has raised $2.1 million from a group of investors including Homebrew Ventures, Sherpa Ventures, and several angels. Shyp is described in the article as a logistics startup that secured a quick external investment. The company received a $250,000 infusion arranged through an AngelList syndicate. The raise was conducted under the new fundraising environment enabled by the JOBS Act Title II, which permits general solicitation. Tim Ferriss acted as the syndicate lead and managing partner for the vehicle that invested in Shyp. The article does not disclose additional operating metrics, revenue, users, or prior financing rounds for Shyp. The coverage frames this raise as illustrative of a faster, more public fundraising path for startups using AngelList syndicates.

Total raised

$52M

Funding rounds

4

Latest round

Series B

Latest activity

Apr 2015