The Packet

ShipHero’s $50M Funding Announcement from our CEO

By June 28, 2021No Comments

ShipHero News

I am excited to announce that ShipHero has raised a funding of $50 million from investor, Riverwood Capital, which will propel our expansion. I am pleased to say that this enables us to serve you even faster, and better – empowering you to achieve growth with your ecommerce business.

This is our first institutional capital and values ShipHero at $225 million. All the funds went into the company, no employees sold stock as part of this transaction and I will retain majority ownership and control of the company. 

Where we are today.
ShipHero serves over $5 billion in annual ecommerce orders for thousands of merchants. Over 30,000 merchant employees use ShipHero to do their job every day. We take our responsibility to provide a high quality solution for ecommerce fulfillment seriously. We put our customers first and work to continuously improve ShipHero by offering new features and enhancements that elevate how people define a warehouse management system; quality and reliability are paramount.

What does this investment announcement mean for you?
I am thrilled about what this funding will enable for our customers. The resources give us the opportunity to make your work easier and faster while saving you money. 

  • ShipHero Software Product Development – We are investing heavily in features, functionality, integrations and quality.
    • Coming soon releases:
      • ShipScore – Free tracking, reporting and analytics on shipping and delivery times for all your shipments with the major US carriers. Preview HERE
      • PackShot – The ability to see a picture of every order as it ships. Watch the video HERE.
      • EDI Support via SPS Commerce – Contact your Customer Service Manager (CMS) to join the beta. 
      • Shipping Containers – Outbound sortation of packages by carrier. Watch the video HERE.
      • Live Shipping Board Metrics – Includes the ability to see and export historical data, available now in the Hero Board.
      • Advanced FedEx One Rate Support – Contact your Customer Service Manager (CMS) to join the beta. 
    • Coming near term releases:
      • ShipHero App Store.
      • Robotics specific API endpoints and a native integration with Invia Robotics.
      • A native Netsuite integration, which will be our first ERP integration.
      • Xdelivery carrier integration.
    • Longer term releases:
      • Guided putaway.
      • Smart replenishment. We’ll prompt you to put fast movers in locations you designate as easy to pick from.
      • A full redesign of our mobile app to improve ease of use.
      • PO receiving on our mobile app.
      • Faster label generation.
      • Weighted average value of on hand inventory.
  • ShipHero Fulfillment Expansion – We offer ecommerce fulfillment that is faster, cheaper and lower carbon out of our own warehouses in Allentown, PA, Dallas-Fort Worth, TX and North Las Vegas, NV, learn more HERE
    • We are under contract to add an additional 400,000 sq ft of owned and operated capacity which includes the addition of a facility in Jacksonville, FL. We will continue to grow the size and number of facilities to support our customers.

Thank you to our employees and customers.

The fundraising is a result of the work we’ve done as a company. Thank you to everyone at ShipHero for doing your best work. I appreciate you. 

Thank you to our customers. We only exist because of the faith you put in us and we only grow because of the good things you tell other business owners about us.

With gratitude,

Aaron Rubin

Founder & CEO, ShipHero