October 25, 2019

Shipwell raises $35 million in funding round, adds FedEx compatibility

Digital freight management firm will expand headcount and open Chicago office, company says.

By DC Velocity Staff

People at computersDigital freight management company Shipwell has raised $35 million in a series B funding round led by Georgian Partners and including Fifth Wall, Global Founders Capital, Box Group, and Aspect Ventures, the company said Thursday. 

The Austin, Texas-based startup said it has raised $47 million in funding to date and plans to expand employee headcount and open a second office—in Chicago—next year.

Shipwell also said Thursday that it is now FedEx compatible, allowing users to manage their parcel and freight shipping in one centralized, cloud-based platform. 

"Shipwell is taking a huge step forward today with our announcement of Series B in addition to FedEx compatibility," Greg Price, CEO and co-founder of Shipwell, said in a statement. "With Georgian Partners, Shipwell is poised to continue delivering a product that makes supply chain management automated, simplified, and cost-effective." 

Since its series A funding round last October, Shipwell has grown shipments on its platform by 600% from more than 4,000 monthly users, company leaders said.

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