Aftership 66m Series 1m Seriesshutechcrunch is a fast-growing startup that is revolutionizing the way e-commerce logistics are managed. They recently raised $66 million in their series A funding round and an additional $1 million seed funding round from Shutech Ventures.
This article outlines the details of each funding round, the key investors and how Aftership plans to use the funds to further their success.
Overview of Aftership
Aftership is an API platform that revolutionizes the management of e-commerce logistics. Founded in 2011 by Andrew Chan, Carl Webb and William Chan, the company created an application that helps online merchants track and analyze their shipments in real-time. Through their software, they offer a wide range of features including email, SMS and push notifications so customers can know exactly when and where their packages are.
Along with this, their platform has allowed them to greatly increase sales and decrease returns with their actionable data insights. Aftership’s mission is to help merchants keep their customers smarter and happier.
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Over the years, Aftership has continued to grow, expand their list of features and services, and sign on more and more customers. Some of their major success stories include dramatic increases in customer satisfaction levels, 95%+ transaction data accuracy and wins of the 2018 Hong Kong ICT Awards and the 2016-2017 SBR Management Excellence Awards.
In 2019, Aftership raised an impressive $66 million Series A funding round and an additional $1 million Series Seed round sponsored by Shutech Ventures.
$66 Million Series A Investment Overview
Aftership’s Series A fundraising round was announced in March 2019 and was led by Sequoia India and Vertex Ventures. Notably, the funding round was China’s largest ever seed round. The round also involved participation from existing investors such as Alibaba’s Entrée Capital, Hong Kong’s Horizon Ventures, China’s FOSUN and many more.
List of Investors
The list of investors in the Series A funding round includes: Sequoia India, Vertex Ventures, Entrée Capital, Horizon Ventures, FOSUN, Mistletoe Inc., MindWorks Ventures, Gobi Partners, Source Code Capital, Pure Capital, GSR Ventures, as well as Taiwan-based Yuanta Investment Co., Ltd.
Use of Funds
The $66 million funding will be used for Aftership’s expansion in the global market and further development of their suite of services. This includes their network of delivery companies, expansion of their integrations, growth of their self-service API and more.
Additionally, more funds will go towards creating new features and services to help and maximize customer satisfaction, as well as furthering Aftership’s dominance as the leading shipment tracking and e-commerce returns platform.
$1 Million Series Seed Funding from Shutech
Shortly after their Series A fundraise, Aftership announced their $1 million Series Seed round sponsored by Shutech Ventures in April 2019. This round was led by notable angel investors such as Tomio Geron, Bradley Horowitz and Bill Elder.
List of Investors
The list of investors in the Series Seed funding round includes Shutech Ventures, Tomio Geron, Bradley Horowitz, Bill Elder, LionRock Capital, Alibaba’s Entrée Capital, Hong Kong’s Horizon Ventures, Marcus Tan, Sammy Hsieb, Ben Sun and many more.
Use of Funds
The $1 million Series Seed funding will go towards further developing Aftership’s services and mission. This means building more features and expanding into wider markets.
Some other uses of the funds will include hiring more employees to expand their global presence, marketing to build more brand awareness and more venture capital to support their continued growth and success.
In less than a decade, Aftership has gone from a small startup to a global powerhouse. Their massive $66 million Series A fundraising and $1 million Series Seed round from Shutech Ventures are impressive signs of their success and potential.
As they look to expand their portfolio of services and further their mission, they now have the resources they need to continue their success.