INSUBCONTINENT EXCLUSIVE:
Shipwell, the software platform for managing trucking logistics, has raised $35 million and is expanding its suite of services to become a
full-service hub for logistics management. The new round led by Georgian Partners comes as the company has just expanded its suite of
tracking and management tools to integrate with FedEx’s parcel shipping services
The company also is planning an expansion into ocean shipping in the coming months, according to chief executive Gregory Price.The
Austin-based company works with multiple service providers — including the logistics services unicorn Flexport — but operates as a
marketplace for shippers to connect with freight companies and online tools to manage those shipments
In effect, the company is pitching to any retailer or outlet a version of the proprietary logistics management toolkit that has made Amazon
so successful.Since its last round of funding a year ago, Shipwell has grown to service more than 4,000 customers per month with supply
chains spanning multiple geographies
The company now operates in Canada, Mexico and even across Europe.With the new funding the company intends to open new offices in Chicago
and expand to a second location in its home base of Austin.The company has also launched a new application program interface that allows it
to help manage logistics through other modes than just trucking
Price says the company has about 20 companies beta-testing the tool, which is set to launch publicly in November.
