SANTA BARBARA, Calif., February 25, 2020 (Newswire.com) - ShipHawk today announced the closing of its latest funding round of $4 million in new capital. The investment was led by Silicon Valley-based Autotech Ventures, who doubled-down on their previous investment following another year of growth over 100 percent. Existing investors, including DN Capital and Karlin Ventures, also joined this round.
“Autotech has been a great partner and we look forward to continuing to scale ShipHawk together so that we can help more mid-market and enterprise shippers,” said Jeremy Bodenhamer, Co-Founder and CEO of ShipHawk.
The funds will be used to expand sales and customer success teams to support the continued rapid expansion of ShipHawk’s user base.
ShipHawk’s cloud-based shipping software enables volume shippers to increase order throughput and decrease shipping costs without adding headcount. The new funding will provide ShipHawk with resources to accelerate growth and meet market demand.
“The challenges businesses face in regards to shipping have only increased and are becoming more complex each day,” said Alexei Andreev, Managing Director of Autotech Ventures. “We believe ShipHawk has the solution. We have been impressed by ShipHawk’s performance following our original investment and are excited to provide capital to allow them to continue growing their team.”
Additional information about ShipHawk can be found at https://shiphawk.com.
Headquartered in Santa Barbara, Calif., ShipHawk is shipping software for high volume shippers. Most businesses spend a ton of time and money trying to ship orders more efficiently. ShipHawk’s shipping software helps automate order fulfillment and eliminate worker decisions so businesses can take control of their warehouse operations. To learn more about ShipHawk, please visit https://shiphawk.com.
About Autotech Ventures
Autotech Ventures is a Silicon Valley venture capital firm with over $270 million under management focused on startups in the $3 trillion ground transportation industry. Autotech Ventures provides startups with capital, ground transportation market intelligence, and access to its transportation-focused network which includes executive talent as well as 25+ corporate investors representing a global market capitalization of over $500B. As a lead or follower investor, Autotech Ventures leverages its network to help portfolio companies recruit top industry talent and engage corporations as scale-up partners.