ShipBob, a US-based e-commerce logistics provider backed by human resources firm Recruit, has raised $40m in a series C round led by venture capital firm Menlo Ventures.
Bain Capital Ventures, Hyde Park Venture Partners, Hyde Park Angels and Y Combinator also contributed to the round. Menlo Ventures partner Shawn Carolan will join ShipBob’s board of directors in conjunction with its investment.
Founded in 2014, ShipBob operates a fulfilment service for direct-to-consumer e-commerce companies, offering same-day delivery at ground-shipping pricing.
The series C funding will allow ShipBob to strengthen its shipping capabilities, drive growth and expand its software platform, which powers its warehouses and enables clients to understand emerging trends and shopping habits.
ShipBob has raised $62.5m in funding to date. Recruit Strategic Partners, a corporate venturing subsidiary of Recruit, took part in a $4m series A round for the company in 2016 that was led by Hyde Park Venture Partners.
The series A also featured Hyde Park Angels, FJ Labs, FundersClub, Startcaps Ventures, NFQ Capital, Network Ventures, Bluestein and Associates, Service Provider Capital, SV Angel, Y Combinator and angel investor Russell Long.
ShipBob subsequently secured $17.5m in a June 2017 series B round led by Bain Capital Ventures, with contributions from Hyde Park Venture Partners, FundersClub, Hyde Park Angels and FJ Labs.
Other investors in ShipBob include Zillionize and We Funder, which both contributed to its $1m seed round in 2015 alongside SV Angel and FundersClub.