Fulfillment technology platform Flowspace landed $31 million in new funding. BuildGroup headed up the Series B investment, with current investors also participating, according to a Tuesday (March 16) announcement.
“In the same way that the pandemic increased adoption of video conferencing, it also accelerated the adoption of plug-and-play warehousing and fulfillment services by retailers and e-commerce companies. As the industry continues to advance, no company is better positioned for long-term category leadership than Flowspace,” BuildGroup Co-Founder and Managing Partner Jim Curry said in the announcement.
Flowspace, which was established in 2017, has now landed an overall $46 million that encompasses investment from Y Combinator, eGateway Capital, 1984 Ventures, Moment Ventures, Industrious Ventures and Canvas Ventures.
Flowspace helps companies control warehousing and fulfillment via its unique technology platform which now operates in “hundreds” of partnering fulfillment hubs throughout the country, according to the announcement.
“Our software powers the entire journey of getting an online order to your door. The combination of increased visibility and ability to fulfill orders across the country enables our customers to grow,” Flowspace Co-Founder and CEO Ben Eachus said in the announcement.
According to the announcement, an increasing number of eCommerce firms now view on-demand warehousing and fulfillment as a solution for the long haul going forward following many months of harnessing the Flowspace system.
In separate news, Nimble Robotics, Inc. revealed a $50 million Series A funding round on March 11, a move meant to let the robotics and online commerce fulfillment technology company speed up hiring, build out its product and technology and expand robot deployments for fulfillment work.
The financing, which was headed up by GSR Ventures and DNS Capital with assistance from Reinvent Capital and Accel, occurs as eCommerce is undergoing a large, pandemic-powered boom.
Merchants are grappling with satisfying their fulfillment requirements, providing firms such as Nimble an opening to offer a robotic solution to a human labor shortage.