Total amount raised
$365 Millions
Latest funding date
01/01/2021
Location
ShipMonk has successfully secured funding from notable investors such as Periphas Capital and Summit Partners. The company closed its last funding round on January 27, 2021, through a Private Equity round.
Keep reading to explore the intricacies of ShipMonk's fundraising journey and the investors backing this innovative platform.
What Is ShipMonk?
ShipMonk, founded in 2014 by Jan Bednar, Kevin Sides, and Vash Jares, is headquartered in Fort Lauderdale, Florida. The company operates in the e-commerce, logistics, SaaS, shipping, supply chain management, and warehousing industries.
With a significant employee base ranging from 1001 to 5000, ShipMonk offers direct-to-consumer fulfillment and technology tools for e-commerce companies. Their services include B2B fulfillment, cross-border fulfillment, and marketplace fulfillment, leveraging cutting-edge technology and strategically located fulfillment centers.
How Much Funding Has ShipMonk Raised?
- Private Equity Round
- Amount Raised: $10M
- Date: October 2018
- Lead Investors: SJF Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company’s growth and development of its e-commerce fulfillment and technology solutions.
- Private Equity Round
- Amount Raised: $290M
- Date: December 2020
- Lead Investors: Summit Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To help online merchants scale operations and meet rapidly growing e-commerce demand.
- Private Equity Round
- Amount Raised: $65M
- Date: January 2021
- Lead Investors: Periphas Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth, support international expansion, new locations, expanded carrier partnerships, and technology enhancements.
Total Amount Raised: $365M. Current Valuation: Not publicly disclosed.
Key Investors
- Periphas Capital
- Details: Periphas Capital is a private equity firm that focuses on growth and buyout investments. The principals have over 30 years of private equity investing experience and have led 38 investments with aggregate invested capital of $5 billion.
- Investment Focus Areas: Technology Enabled Services, Business Services, Consumer, Industrials
- Notable Investments: Great Plains Software, TVS Logistics, Amscan, Interline Brands
- Summit Partners
- Details: Summit Partners is a global alternative investment firm that invests in growth equity, fixed income, and public equity opportunities. They have a history of investing in companies across various industries and stages of growth.
- Investment Focus Areas: Growth equity, Fixed income, Public equity
- Notable Investments: Uber, Avast, McAfee
- SJF Ventures
- Details: SJF Ventures is a venture capital partnership that invests in high-growth, positive impact companies. They focus on companies that deliver social, environmental, and financial returns.
- Investment Focus Areas: Clean energy, Sustainability, Technology
- Notable Investments: Nextracker, TransLoc, Vital Farms
- Grotech Ventures
- Details: Grotech Ventures is a venture capital firm that invests in early-stage technology companies. They have a long history of supporting innovative startups and helping them scale.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: LivingSocial, LogRhythm, Optoro
- Supply Chain Ventures
- Details: Supply Chain Ventures is an investment firm focused on supply chain and logistics technology companies. They aim to support companies that improve the efficiency and effectiveness of supply chains.
- Investment Focus Areas: Supply chain, Logistics technology
- Notable Investments: Not publicly disclosed
What's Next for ShipMonk?
ShipMonk is poised for significant growth, driven by the booming e-commerce market and the company's strategic international expansion plans. With a new European fulfillment center on the horizon and a 50% increase in headcount by the end of 2021, the opportunities for scaling operations are vast. Enhanced technology and carrier partnerships will further streamline their services, making them a formidable player in the logistics industry.
Future fundraising efforts are likely, given the substantial recent investments. These funds will support continued growth and technological advancements, attracting more venture capital and private equity interest. However, challenges such as managing rapid growth, navigating international regulations, and maintaining high service levels during peak times will require careful planning and execution.
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