uShip Secures $18M Series C
AUSTIN, TX, Largest and most trusted transportation marketplace announced today it has closed an $18M round of Series C financing with Kleiner Perkins Caufield & Byers.
uShip.com, the largest and most trusted transportation marketplace, announced today it has closed an $18M round of Series C financing with Kleiner Perkins Caufield & Byers (KPCB). Funds will primarily be used to extend the development, sales and marketing of uShip's commercial freight platform, mobile platform and global presence. Maritza Liaw, Partner at KPCB, will join uShip's Board of Directors.
"Kleiner Perkins funding and resources will propel uShip's next phase of growth. Commercial freight is trending toward complete automation and greater efficiency, meaning uShip's PRO platform has the opportunity to impact the entire industry, from enterprise shippers to freight brokers to carriers," said Matt Chasen, CEO and founder of uShip. "We've already built an online shipping marketplace of over 1.6 million shipping customers and 325,000 registered carriers, a key distinction between our efforts and those of our competitors. KPCB's funding and support will allow us to continue our global expansions plans and further develop our innovative shipping platform."
"uShip is a proven marketplace model with fantastic traction across a number of transport categories," said Liaw. "They are truly a disruptive player in shipping logistics, reducing friction for both shippers and transporters. We see a huge opportunity for growth in the commercial sector."
This round of funding will also enable uShip to further develop its new "PRO" platform (currently in private beta), which allows business shippers and freight brokers to build their own carrier networks, as well as efficiently manage and automate their shipping operations. uShip PRO is primarily aimed at the $300B truckload freight market in the U.S., and complements uShip's consumer-oriented marketplace that helps people more efficiently and affordably move hard-to-ship, large items such as cars, boats, household goods and motorcycles.
Perhaps no other segment in today's workforce is more reliant on mobile devices than truckers - and 70 percent say their dependence is only growing stronger, according to a recent uShip mobile usage study. uShip is further developing its mobile applications and platform to better meet the needs of both transporters and shipping customers.
Since 2009, uShip has been expanding its global footprint, now localized in 18 countries and regions on five continents, and plans to expand its marketing and development efforts in Latin America and Europe.
Shipping Wars, Season 3
Season 3 of Shipping Wars, the A&E real-life series that features uShip, premiered Dec. 12 and airs Wednesdays at 10/9c. The show follows six independent truck drivers who use uShip to competitively bid to transport oversized loads found on the marketplace. Seasons 1 and 2 attracted 2-3 million viewers per episode, placing it among cable's top 10 shows (Nielsen).
This financing brings the total capital raised by uShip to $28M. KPCB joins institutional investors Benchmark Capital and DAG Ventures, each of which participated in earlier rounds.
uShip.com is the world's largest and most trusted transportation marketplace primarily serving the freight, household goods and vehicle shipping markets. Consumers and businesses can compare and book upfront quotes, name their own price or receive auction-style bids from thousands of customer-reviewed Transportation Service Providers, ranging from independent owner-operators to the largest freight carriers and brokers. uShi launched in 2004 and is based in Austin, Texas. http://www.uship.com
Kleiner Perkins Caufield & Byers has backed entrepreneurs in more than 500 ventures leading to 150 IPOs, 350,000 jobs and a deep strategic network. The firm invests in all stages from seed and incubation to growth companies, and has helped build pioneering companies like Amazon, Google, Intuit, Symantec, and WebMD. KPCB operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. http://www.kpcb.com.
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