DropShip.com Grabs Financing
AMERICAN FORK, UT, Software company dedicated to improving the process of matching consumer demand with product supply announced the closing of a round of early stage (post revenue) financing from Rock & Hammer Ventures.
DropShip.com, a Utah-based software company dedicated to improving the process of matching consumer demand with product supply by facilitating drop shipping relationships, announces the closing of a round of early stage (post revenue) financing from Rock & Hammer Ventures, a venture firm that has pioneered revenue-based financing in Utah.
Originally launched in November of 2011, DropShip.com has grown and progressed over the last 10 months, moving their offering from a platform that leveraged the expertise of DropShip.com's team to provide custom integrations and solutions to a standards-based platform that leverages e-Commerce Drop Shipping Standards (see http://www.e-DSS.org) to help retailers and suppliers automate and standardize the data exchanges required for drop shipping operations.
"Working with the team at Rock & Hammer Ventures has been awesome. They're first and foremost fellow entrepreneurs," said Jeremy Hanks, Founder and CEO, DropShip.com. "On top of that, the flexible and founder friendly vehicle of Revenue Based Financing is perfect for our needs for some additional capital."
Rock & Hammer recognized the significance of the pain around drop shipping in the e-commerce ecosystem, saw the traction that DropShip.com has made as validation that they're solving the pain and chose to invest in the team and culture at DropShip.com to help them add features and functionality to continue to round out their solutions for retailers and suppliers.
"Our investment thesis focuses on companies that have a customer-validated business model," said Chris Russell, Partner, Rock and Hammer Ventures. "DropShip.com's validation comes from their years of experience living their customer's pain, as well as the rapid and early traction they've received from major players in the ecosystem. We're excited to add the great team at DropShip.com to our portfolio of investments."
About Rock & Hammer Ventures
Rock & Hammer Ventures (RHV) pioneered Revenue Based Financing in Utah. Founded in 2010, RHV has partnered with over a dozen early-stage businesses to provide them with growth capital. RHV's model couples founder-friendly capital with the assistance of an operationally experienced team to deliver significant value to their portfolio companies. RHV can be found on the web at http://www.rockandhammer.biz.
DropShip.com is a Utah-based company that builds technology, software, and services to provide ecommerce retailers and wholesale suppliers with private drop shipping software platforms and services that manage product catalogs, inventory feeds, and orders. DropShip.com's Software for Drop ShippingTM leverages industry standards specifications from e-DSS (e-Commerce Drop Shipping Standards) to simplify and streamline drop shipping connections, help companies keep up with ecommerce growth and potential, and save them boatloads of money. The DropShip.com team has been managing drop shipping relationships and logistics since 2002 and has over 60 years of combined experience in drop shipping and ecommerce. For more information visit the company website, http://www.dropship.com.
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