E-commerce tracking platform AfterShip raises $66M led by Tiger Global
AfterShip launched in 2012 to help online sellers track packages across different carriers, but since then it has built a suite of data analytics tools covering almost every step of the shopping experience, from email marketing to customer retention. The Hong Kong-headquartered startup announced today it has raised a $66 million Series B led by Tiger Global, with participation from Hillhouse Capital’s GL Ventures.
AfterShip’s last round of funding was a $1 million Series A in 2014. Co-founder Andrew Chan told TechCrunch that the company has been profitable since its launch and grew mainly through word-of-mouth referrals and partnerships, like a Shopify integration, that boosted its profile. But the company recently added a sales team and will use its latest capital on international hiring for sales and customer support. It also plans to launch new products and expand further in the United States, where about 70% of AfterShip’s customers are located.
The company’s software enables sellers to track shipments made through more than 740 carriers and handles more than 6 billion shipments each year. AfterShip’s partners with about10,000 companies, including some of the biggest names in e-commerce: Shopify (where it is used by 50,000 merchants), Magento, Squarespace, Amazon, eBay, Etsy, Groupon, Rakuten, Wish and retail brands like Dyson and Inditex.
AfterShip’s core product is its shipment tracking platform, but it also makes apps for shoppers, including self-service returns (Read more...)