Co-founders Greg Price and Jason Traff started Shipwell to increase visibility in the shipping and logistics industry. To do this, Shipwell built a platform that uses artificial intelligence and cloud computing to help businesses automate and optimize their supply chains.
Three years have passed, and now the company has over 4,000 customers. But a new chapter is about to begin, thanks to a recently closed $35 million Series B funding round.
Throughout the company’s lifetime, it has grown its business by adding features to its platform and product. This includes things like making its platform compatible with FedEx, or adding additional shipping modes like drayage — short-distance shipments, often from a ship to a warehouse. This new funding will help Shipwell add even more features in the future. The company is planning to expand into ocean shipping in the next few months, according to a report from TechCrunch.
Shipwell also is planning on using the funding to expand its team. Shipwell says it’ll hire people in Austin as well as its new Chicago office.