ShipHawk Secures New Funding to Support Rapid Growth and Expand Warehouse Automation Platform
ShipHawk Closes $17 Million Growth Financing
SANTA BARBARA, Calif., June 29, 2021 (Newswire.com) - ShipHawk, the premier packing and shipping software for ERP-connected businesses, today announced the closing of a $17 million growth financing. The funding round, led by PeakSpan Capital, follows the Company's rapid growth in supporting businesses looking to automate product shipping and warehouse automation. Existing investors, including Autotech Ventures, also joined the round.
The new funding will fuel ShipHawk's industry-leading packing and shipping platform and new product innovations, as well as carrier and ERP integrations that help eCommerce shippers increase throughput and reduce distribution costs.
"The pandemic led to eCommerce growth rates that have been hard for shippers to keep up with," said ShipHawk CEO and founder Jeremy Bodenhamer. "Shippers need to be able to ship orders more efficiently at the lowest possible cost. With shipping costs climbing and the constrained availability of warehouse workers, shippers are looking for software to automate order-fulfillment workflows, drive down shipping costs and meet customer-delivery promises."
"We are excited to partner with the PeakSpan team on the next phase of our growth," said Bodenhamer.
The funds will be used to further expand product and engineering investments to support the continued rapid growth of ShipHawk's user base.
"We couldn't be more thrilled and humbled to call ourselves a partner to the ShipHawk team," said Jack Freeman from PeakSpan. "The boom of D2C/B2C eCommerce, rising consumer expectations and a shortage of warehouse space and employees have all collided to put mid-market shippers in the pressure cooker with enterprise-grade warehouse automation technology as the only viable path to competing with the likes of Amazon. We're energized for the team to leverage this fresh funding to continue executing on their mission of democratizing world-class, data-centric warehouse automation solutions for mid-market brands."
Additional information about ShipHawk can be found at https://shiphawk.com.
Headquartered in Santa Barbara, California, ShipHawk is an advanced packing and shipping software for high-volume retail, wholesale, and eCommerce companies using an ERP. ShipHawk gives businesses control to customize business rules, eliminate manual decisions in the warehouse, reduce order-fulfillment waste and substantially reduce shipping costs without adding headcount. To learn more about ShipHawk, please visit https://shiphawk.com.
About PeakSpan Capital
PeakSpan Capital is a growth equity firm based in New York City and Silicon Valley, with a focused mission to be the partner of choice for growth-stage entrepreneurial teams that are building amazing software targeted at business buyers of all sizes. PeakSpan combines deep domain expertise within a select number of themes with a homegrown, proprietary technology platform providing visibility into company and market performance to help entrepreneurs drive resilient, risk-adjusted value creation. To learn more about PeakSpan Capital and its portfolio, please visit www.peakspancapital.com.