Whitebox, a Baltimore-based e-commerce and fulfillment technology company, announced Tuesday it raised $20 million in Series C funding. The round was led by Delta-v Capital and is being allocated toward accelerating enhancements to the company’s proprietary Omnifi technology platform and hiring additional staff.
Selling things online might seem as easy as a few clicks on Amazon or eBay, but there’s more to e-commerce than most people think. Supply chain issues aside, a lot of businesses work together to operate an online shop. From product photography to warehouse management to shipping and delivery, e-commerce can get complicated quickly.
That’s where Whitebox comes in; it makes selling things online easy. Businesses simply send Whitebox their products, Whitebox checks the label and photographs and lists the item for sale on websites like Amazon and eBay.
Whitebox also makes sure that product listings are optimized for best sales and manages warehouses, third-party fulfillments and more. Brands are also empowered to make important decisions through the Omnifi platform with comprehensive, transparent data on how their products are performing online.
“Brands today need to do well in so many areas to grow profitably in e-commerce,” Whitebox CEO Marcus Startzel said in a statement. “Access to data allows them to learn more about their customers than in traditional retail and use those insights to make their business smarter, leaner and more profitable in real-time. We can help brands succeed on marketplaces as well as the execution of their product fulfillment. Whitebox’s team and technology are uniquely positioned to capitalize on the potential of e-commerce for brands like no other company.”
This Series C brings the company’s total capital raised to nearly $50 million since launching. It’s also Whitebox’s largest funding round to date and adds Delta-v Capital’s Wali Bacdayan and Garrett Marsilio to its board of directors.
Despite obstacles like the global supply chain crisis, Whitebox experienced an eight percent increase in year-over-year growth in the first half of 2021. The company is currently expanding its team with six open positions and more positions are likely to open as the new capital gets put to use.
