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Shippo, a software startup that wants to make shipping as easy as Amazon Prime for all online businesses, announced a $45 million Series D round on Tuesday led by D1 Capital and joined by other existing investors Bessemer Venture Partners, Union Square Ventures, Uncork Capital, and Version One.
The newest round of funding placed the company’s valuation at $495 million, more than double its Series C valuation of $220 million in April 2020. To date, Shippo has raised $94 million.
Shippo’s goal is to help small-to-medium sized businesses achieve fast, low-cost shipping by offering application programming interfaces, or APIs, to link together e-commerce firms’ various services. APIs essentially connect data and features from different apps and tools, allowing them to “talk” to each other; payments firm Stripe and communications platform Twilio are two of the biggest companies in this space.
Shippo aims to be the “Stripe for shipping,” cofounder Laura Behrens Wu told Insider: Its platform helps online stores bill customers for shipping costs, print labels, track packages, handle returns, and more, essentially connecting all online and offline processes.
“There are real life events that need to happen: A truck needs to pull up at your warehouse. The warehouse workers have …read more
Source:: Businessinsider – Technology
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