SoftBank-Backed ShipBob Raises $200M In Bain-Led Round, Gains Unicorn Status: Reuters

SoftBank Group Corp SFTBY SFTBF backed cloud-based logistics platform, ShipBob, has raised $200 million in a Bain Capital Ventures led late-stage funding round, Reuters reported.
The funding round more than doubled its valuation, lifting it to unicorn status of $1 billion or more.
Other participants include existing investors SoftBank Group, Menlo Ventures, Hyde Park Venture Partners, Hyde Park Angels, and Silicon Valley Bank.
ShipBob had raised $68 million in a SoftBank Vision Fund 2 led-round in September. Bain Capital Ventures had also led ShipBob's Series B round in June 2017.
ShipBob's offering brings together leading e-commerce platforms and marketplaces, including Amazon.com Inc AMZN, Walmart Inc WMT, Shopify Inc SHOP, Square Inc SQ, and Wix.com Ltd WIX to enable merchants to manage products, inventory, orders, and shipments.
The additional investment from Bain Capital Ventures and Series E will aid ShipBob in strategic, long-term investments in its product and technology, co-founder and President Divey Gulati said.
ShipBob was launched through Y Combinator, Silicon Valley's prominent incubator and startup fund, by Gulati and Dhruv Saxena, its CEO.
Over 5,000 businesses use ShipBob's platform. It has 24 fulfillment centers across five countries, including U.S., Canada, England, Ireland, and Australia.