ShipHero, a New York-based e-commerce shipping and logistics platform, has acquired Delivery Net, a Richmond Hill, Ontario-based provider of e-commerce delivery solutions. No financial terms were disclosed. Last year, ShipHero closed its first institutional financing, securing $50 million led by Riverwood Capital.
NEW YORK , May 24, 2022 /PRNewswire/ — ShipHero (https://shiphero.com/), the leading shipping and logistics platform for over 5,000 e-commerce brands and 3PLs, announces its first international acquisition, Canadian delivery provider, Delivery Net, – providing 250,000 square feet of warehouse space in Toronto, anchoring the company’s commitment to supporting its customers as they scale operations in new markets.
With ongoing disruptions to the supply chain, it has never been more logistically challenging to ship goods and products, especially internationally. Delivery Net has been a leader in the Canadian marketplace for over twenty years. Now a key partner to ShipHero’s growing fulfillment network, Delivery Net will serve as the Canadian 3PL extension for ShipHero, with warehouses in both Toronto and Vancouver. ShipHero now offers fulfillment services out of both locations plus duty-free imports through its Section 321 certification, in addition to integrated zone skipping in its top-rated Warehouse Management Services (WMS) for all Canadian Customers.
For ShipHero CEO & Founder, Aaron Rubin, the expansion of ShipHero couldn’t have come at a better time. “Currently, we serve over $8 billion a year of GMV. That significant volume, paired with an unpredictable and fast-growing e-commerce sector, makes expanding our physical network a necessary step in order to optimize the tools and resources we can offer customers” says Rubin.
This activity is the latest in a series of strategic gains made by ShipHero since closing its series-A funding round in 2021, which include the acquisitions of Utah-based warehouse Golden Egg Solutions and Florida’s Cargo Cove, alongside a 200,000-square-foot warehouse expansion in North Las Vegas at the close of Q3 2021. In total, ShipHero has expanded its footprint to a total 1.1 million square feet, including 5 acquisitions in the last 12 months.
ShipHero has a $100 million run rate this year, up from $5 million in 2019. The company has experienced 20x growth over the last three years, with plans to further build out its fulfillment capabilities on a global scale in 2022.
For more updates and information on ShipHero, visit: https://shiphero.com/
ShipHero is a US based, leading provider of cloud-based e-commerce fulfillment solutions that gives online retailers and third-party logistics providers the tools to ship more efficiently anywhere in the world. With more than 5,000 customers located around the globe, ShipHero offers online retailers a suite of services ranging from warehouse management software to outsourced fulfillment as a service. Some notable customers include Glossier, Mars, Universal Music Group and Canadian Tire. Additionally, ShipHero is the official fulfillment network partner for Shopify, and is rapidly scaling a network of warehouses throughout the US to meet the growing demands of today’s online retailers.