Santa Barbara, CA, October 26, 2018 --(PR.com
)-- ShipHawk today announced the closing of its latest funding round, raising $6.5 million in new capital, led by Autotech Ventures with participation from new and existing investors, including DN Capital and Mucker Capital.
"To compete today, great businesses need the lowest possible shipping and fulfillment costs, but most busy executives don’t have the time or the technology to find them," said Jeremy Bodenhamer, Co-Founder and CEO at ShipHawk. "We built ShipHawk to do this for them so they can focus on more important things. With this round of investment, we will be able to expand and deliver on our mission to bring enterprise shipping to everyone."
ShipHawk’s cloud-based shipping and fulfillment software enables mid-market and enterprise companies to improve and scale in today’s increasingly competitive market. This round of funding will provide ShipHawk the ability to further invest and develop its product.
"We love how ShipHawk allows online retailers, manufacturers and distributors to streamline operations and reduce their shipping costs across the country," said Alexei Andreev, Managing Director of Autotech Ventures. "With the rapidly growing complexity of transportation ecosystem, finding the right logistics provider that can offer the right price and right delivery terms for any package is getting exceedingly difficult. It is a hard optimization problem that needs to be solved in real-time for each delivery."
ShipHawk enables businesses to automate manual decisions, improve fulfillment workflows, run data-driven supply chains to reduce costs and increase throughput. Customers utilizing the ShipHawk platform average reduced shipping costs of 20 percent.
"We're excited to support ShipHawk in its rapid growth that the company demonstrated over the last three years," said Adreev. "We believe that Autotech is well positioned to provide both capital and transportation industry connections to fuel continuing expansion of the Company."
Additional information about ShipHawk can be found at https://shiphawk.com.
ShipHawk is a modern shipping software for mid-market and enterprise shippers. Headquartered in Santa Barbara, Calif., ShipHawk empowers real people and real business to compete and scale in a competitive market. Today, businesses need the lowest possible shipping and fulfillment costs, but most busy executives don’t have the time or the technology to find them. The average business overpays for more than 20% of the shipments they process. That’s why we built ShipHawk. To learn more about ShipHawk, please visit https://shiphawk.com.
In 2017, ShipHawk was named the #1 Fastest Growing Logistics and Transportation Company in America by the Inc. 5000 and ranked #8 on the Deloitte Technology Fast 500.
About Autotech Ventures
Autotech Ventures is a Silicon Valley venture capital firm that manages a $120 million fund focused on startups in the $3 trillion ground transportation industry. Connected, autonomous, shared, electrified vehicles and related mobility services developed by startups and tech giants have caused tectonic shifts in the incumbent ground transportation sector. Vehicle manufacturers, energy corporations, parts suppliers, dealerships, insurance corporations, repair shops, parking operators, ground logistics firms, and road infrastructure providers are all being impacted by these new startups. Autotech Ventures’ portfolio can be found at (http://autotechvc.com/portfolio/).
This press release may contain statements of a forward-looking nature which represent our management’s beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.