Grotech Ventures Portfolio Company ShipMonk Closes $65M Financing


ShipMonk, a Fort Lauderdale, Fla.-based provider of e-commerce fulfillment and technology solutions, raised $65m in growth equity funding.

Periphas Capital made the investment. In conjunction with the funding, Periphas Capital Managing Partner, Sanjeev Mehra, will join ShipMonk’s Board of Directors.

The company intends to use the funds to further accelerate its growth and international expansion, expand carrier partnerships and make technology enhancements to its platform.

The deal closely follows a $290m growth equity round from Summit Partners, raised in December 2020. Total funding now exceeds $365m, including previous funding from SJF Ventures, Grotech Ventures and Supply Chain Ventures.

Founded in 2014, by CEO Jan Bednar, ShipMonk provides small and medium-sized ecommerce businesses with technology-driven fulfillment solutions giving:

  • order integration, inventory and warehouse management, and shipping optimization
  • Global reach, enabling merchants to ship items and service demand around the world
  • the ability to compete with established retailers.

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.

The company has more than 1,000 employees across facilities in Fort Lauderdale, FL, Pittston, PA, Los Angeles, CA, and Prague, Czech Republic and serves a growing base of B2C businesses including BrüMate, Liquid IV, Cuts Clothing, FEAT and CatLadyBox.

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