Santa Barbara, CA, October 08, 2014 --(PR.com
)-- When buying small things online, it’s common to see FedEx, UPS or USPS shipping, but a funny thing happens when trying to sell items that don’t fit in an everyday box; the guessing begins and the clock starts ticking on customers’ patience. When it comes to shipping, what you don’t know can cost you.
Lead by DN Capital, ShipHawk has raised $5M in new funding to take the guesswork out of shipping. Their industry first API lets eCommerce platforms, marketplaces, online auctions and small businesses take unpacked, real-world items and convert them into a language that shipping companies understand. Not only does ShipHawk facilitate quotes, but it backs each one with its very own price guarantee.
“Unanswered shipping questions lead to longer sales cycles, unhappy customers, and delayed deliverables. Very few people know how to ship large items in any scalable fashion,” explains Jeremy Bodenhamer, ShipHawk’s CEO.
With ShipHawk’s technology, users ship without surprises – no matter what the item, origin, or destination. ShipHawk instantly connects the dots between the thousands of variables that affect cost. With the most data, the smartest software and hundreds of reliable partners, ShipHawk provides the best options for a seamless process and a successful delivery.
“This has never been done before,” explains Bodenhamer. “In the past, when buying or selling large items online, there has been no clear shipping cost. The best you could hope for was subsidized shipping or worse, a shocking price after you made the purchase. Now you can get instant quotes, followed by automated booking, dispatch, tracking, and delivery confirmation – all managed by the seller from one dashboard – even if they are shipping with 15 different carriers.”
It is this transparency and ease of use that spurred the interest of leading international, Los Angeles and Silicon Valley venture firms. The completion of ShipHawk’s Series A round takes the total equity investment over $6 million. Lead investor, DN Capital, joins the Board with 100% participation from all major existing investors. DN Capital’s Managing Partner, Steve Schlenker, describes their interest in ShipHawk as a natural complement to their existing portfolio and future ventures.
“We believe the team at ShipHawk provides a better experience for eCommerce platforms and their customers than that of first generation Internet offerings in the logistics space. We are excited to be joining them in this journey.”
Other major investors include Karlin Ventures, Rothenberg Ventures, and Wavemaker Partners (formerly Siemer Ventures). In conjunction with its recent close, new hires, and the Company’s 11th consecutive month of beating its operating plan in both revenue and new customers, ShipHawk is poised for an exciting Q4. The funds will be used to continue to grow its US operations, add more carriers, and expand customer service for businesses looking to augment or replace their shipping departments with ShipHawk’s technology.
Based in Santa Barbara, CA, ShipHawk is a technology layer that allows businesses and individuals to access packing and shipping information. ShipHawk levels the playing field for shippers, no matter who they are or what they ship. ShipHawk takes real-world items, whether it’s a “queen mattress” or “guitar”, and converts the items into data that shipping companies understand. By aggregating transportation and logistics data from numerous local, regional and national shipping carriers, the ShipHawk platform matches your specific items with the optimal carrier. Now anyone can get rates from reputable carriers and book on demand.
About DN Capital
Portfolio companies include Shazam
Entertainment, Apsmart (sold to Thomson Reuters), Book-a-tiger, Datanomic (sold to
Oracle), Endeca Technologies (sold to Oracle), Eyeka, JacobsRimell (sold to Amdocs), Mister Spex, OLX (sold to Naspers), Performance Horizon Group, Quandoo, Scarosso, Videdressing and Windeln.de. The professionals at DN Capital bring over 60 years
of private equity experience to their investments, and actively work with portfolio companies to steward their
growth through the various stages of development. Additional information about the firm and its portfolio
companies can be found at http://www.dncapital.com.