• ITVI.USA
    14,293.460
    37.930
    0.3%
  • OTRI.USA
    22.590
    -0.070
    -0.3%
  • OTVI.USA
    14,281.460
    36.060
    0.3%
  • TLT.USA
    2.780
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • WAIT.USA
    127.000
    0.000
    0%
  • ITVI.USA
    14,293.460
    37.930
    0.3%
  • OTRI.USA
    22.590
    -0.070
    -0.3%
  • OTVI.USA
    14,281.460
    36.060
    0.3%
  • TLT.USA
    2.780
    0.000
    0%
  • TSTOPVRPM.ATLPHL
    2.650
    -0.300
    -10.2%
  • TSTOPVRPM.CHIATL
    3.280
    -0.100
    -3%
  • TSTOPVRPM.DALLAX
    1.460
    -0.040
    -2.7%
  • TSTOPVRPM.LAXDAL
    2.490
    -0.200
    -7.4%
  • TSTOPVRPM.PHLCHI
    1.970
    0.010
    0.5%
  • TSTOPVRPM.LAXSEA
    2.990
    -0.310
    -9.4%
  • WAIT.USA
    127.000
    0.000
    0%
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.