• ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
American Shipper

Shippo snags $20m in latest VC round

The technology startup provides application program interfaces (APIs) across parcel carriers to allow small businesses to quote shipping costs more accurately for domestic and international orders.

   Shippo, an application programming interface (API) provider for parcel shipping connectivity, has landed a $20 million venture capital investment, the company said Tuesday.
   The startup’s Series B round, led by Bessemer Venture Partners, was reported by Forbes Tuesday, and follows its $7 million Series A funding in fall of 2016.
   Shippo essentially helps businesses track orders, returns and insurance on deliveries through the major global parcel carriers through an API-connected dashboard. The company trumpets connections to UPS, FedEx, DHL, the U.S. Postal Service, Canada Post, Deutsche Post, among a network of other regional and smaller couriers.
   The goal is to allow shippers – primarily smaller ones – a way to quickly factor freight costs into the price quoted online to a potential consumer. The process is particularly fraught for international orders, where small or irregular shippers often have little to no experience with the cost or complexity of shipping across borders.
   Shippo’s APIs also allow a user to track shipments across carriers.
   For episodic users, Shippo charges 5 cents per shipment, plus carrier costs. Enterprise shippers, on the other hand, can negotiate the cost of Shippo’s services based on volume and needs.
   Shippo can broadly be grouped into a bucket of startup technology providers aiming to arm shippers with a way to compete in the highly competitive e-commerce world. The solution is particularly intriguing for companies that lie outside the universe of Amazon’s marketplace or Fulfilled by Amazon program.

We are glad you’re enjoying the content

Sign up for a free FreightWaves account today for unlimited access to all of our latest content

By signing in for the first time, I give consent for FreightWaves to send me event updates and news. I can unsubscribe from these emails at any time. For more information please see our Privacy Policy.