– USA, FL – ShipMonk, a leading provider of e-commerce fulfillment and technology solutions, today announced a $65 million infusion of growth equity from Periphas Capital.
Concurrent with the financing, Sanjeev Mehra, Managing Partner of Periphas Capital, joined the Board.
“The leadership team led by Jan Bednar has built a nimble and entrepreneurial culture and are growing at a hyper-scale pace,” said Sanjeev Mehra, Managing Partner of Periphas Capital and Board member. “We believe ShipMonk benefits from three growth curves: explosion in e-commerce, consumer preference for digitally native direct-to-consumer brands, and a shift by SMBs to outsource logistics with the technology they can’t build themselves.”
The deal closely follows a $290 million growth equity round from Summit Partners, raised in December. ShipMonk’s total funding now exceeds $365 million, including previous funding from SJF Ventures, Grotech Ventures, and Supply Chain Ventures.
The latest financing comes as the company further accelerates its growth and international expansion to support more customers with new locations, expanded carrier partnerships, and technology enhancements to its platform. Periphas Capital Managing Partner, Sanjeev Mehra, will join ShipMonk’s Board of Directors.
“Our technology platform allows merchants to delegate the hassle of managing order fulfillment, tracking inventory throughout warehouses, and dealing with fluctuating shipping circumstances so they can focus on scaling their business,” said Founder and CEO, Jan Bednar. “Working with ShipMonk means orders arrive when you say they will, which is always important, but particularly so when a buyer is counting on a gift delivery to celebrate a holiday or special occasion. We treat every order as a holiday delivery order.”
ShipMonk was founded in 2014, by CEO Jan Bednar, inspired by a personal need, as he experienced difficulty getting U.S. merchants to ship internationally to his native country, the Czech Republic.
Today, ShipMonk’s API integrations sync with leading shopping cart and marketplace platforms, such as Shopify, to automatically import orders across every sales channel and support a seamless and quick fulfillment experience.
“Starting our e-commerce business, the last thing my co-founders and I wanted to try to do on our own was deal with the complexities of fulfillment. Having ShipMonk as our partner was critical in supporting our rapid growth, as our brands went from $0 to $75 million in sales in less than 24 months,” said Kevin Gould, founder, and CEO of Kombo Ventures. “ShipMonk has scaled seamlessly along with us as we’ve grown and its technology is the foundation for helping keep pace with the growing demand to accurately fill orders and ship our products wherever they need to go.”
“ShipMonk’s motto is to help its customers ‘stress less and grow more,’ and this is exactly what Periphas Capital can help do for ShipMonk’s business,” said Periphas Capital’s Mehra. “We believe ShipMonk is poised for significant growth from existing customers who are growing rapidly themselves, a large pipeline of new customers, as well as international expansion and omnichannel growth.”
About ShipMonk
From its inception in 2014, ShipMonk has operated with a singular guiding principle: to help small and medium-sized eCommerce businesses scale by offering technology-driven fulfillment solutions that enable business founders to devote more time to the things that matter most in their businesses. Put simply, ShipMonk helps eCommerce companies stress less and grow more. Headquartered in Fort Lauderdale, FL, ShipMonk has more than 1,000 employees across facilities in Fort Lauderdale, FL, Pittston, PA, Los Angeles, CA, and Prague, Czech Republic.
For more information: https://www.shipmonk.com/
About Periphas Capital
Periphas Capital focuses on growth and buyout investments in four primary industries: Technology Enabled Services, Business Services, Consumer and Industrials. The principals of Periphas bring over 30 years of private equity investing experience and have led 38 investments with aggregate invested capital of $5 billion, including previous investments in SMB software, logistics, and distribution heavy businesses such as Great Plains Software, TVS Logistics, Amscan, and Interline Brands.
For more information: https://periphascapital.com/
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