Flowspace Raises $12M in Series A Funding Led by Canvas Ventures
New Capital Enables On-Demand Warehousing andFulfillment Technology Company to Advance its Cloud Software Platform,Expand Network and Accelerate Growth
CULVER CITY, Calif., April 16, 2019-- Flowspace, an on-demand warehousing and fulfillment technology company,today announced $12M in Series A funding.
Silicon Valley-based Canvas Ventures led the new round withparticipation from Moment Ventures, 1984 Ventures and Y Combinator.Founded in 2017, Flowspace had previously raised $3.4M in seed funding.
Flowspace is transforming how businesses manage warehousing andfulfillment, especially for ones that have multi-channel needs. Thegrowth of e-commerce is requiring all businesses to develop newcapabilities. Flowspace offers modern cloud-based inventory, order andwarehouse management software, a nationwide warehouse network reachingevery major U.S. market, and flexible month-to-month pricing to partnerwith growing businesses. Its solution is setting the new benchmark forcustomers to store, fulfill and transport products across the U.S.
“Flowspace customers – enterprise, small and mid-size businesses,importers, manufacturers, and e-commerce retailers – rave about itsplatform and best-in-class service. The company has truly transformedevery customer’s approach to warehousing and fulfillment, especially forthose who have multi-channel needs,” says Paul Hsiao, General Partner atCanvas Ventures and Flowspace’s newest board member. “I’ve beenimpressed with the team, their pace of innovation and ability to scale.Flowspace continues to raise customer expectations for the space everyday and is well-positioned to lead this category.”
Flowspace’s top executive also sees huge potential for the companymoving forward.
“Our vision is to become the fulfillment infrastructure for any companywith inventory. We provide a massive warehouse and fulfillment network,real-time visibility into inventory levels, and an easy-to-use software.I am proud of what our team has built and grateful to the hundreds ofcustomers and warehouses who use Flowspace today,” said Flowspaceco-founder and CEO Ben Eachus. “We look forward to expanding ourfootprint, accelerating growth, and increasing investment in ourplatform.”
Jun-Sheng Li, who was previously SVP Global E-Commerce Supply Chain atWalmart and founder and CEO of Transplace, commented, “Flowspace isembarking on a massive opportunity. Ben’s experience leading warehousingand fulfillment at high-growth e-commerce companies gives him a uniqueinsight into what customers need to do in order to be successful. Histeam has innovated rapidly and they are well positioned to execute onthis vision.”
About Canvas Ventures
Named a “Top VC Firm to Watch” by the 2015 Forbes Midas List, Canvas isan early-stage venture capital firm based in Silicon Valley. Its keyinvestment areas include AI/machine learning, marketplaces, and newenterprise, and its partners have invested in and worked with more than10 technology start-ups from founding to IPOs – including Mulesoft,Upwork, Boingo, Lending Club and others. Canvas portfolio companiesinclude: 11 Honoré, Casetext, Eden, Eporta, Figure Eight (Appen), Fluxx,Folloze, Functionize, FutureAdvisor (Blackrock), Gabi, Kidbox, Kinetica,Luminar Technologies, Owl Car Cam, Platform9, Roofstock, Thrive Global,Totango, Transfix, Vida Health, Viewics (Roche), and Zola. Visit us at www.canvas.vc.
Flowspace is a next generation logistics company that provides on-demandwarehousing and fulfillment services to businesses of all sizes. Thecompany handles the storage, transportation and services of inventory ona month-to-month basis. By using the company’s easy-to-use online cloudplatform, Flowspace customers gain immediate access to hundreds ofprofessionally operated warehouses that are strategically locatedthroughout the U.S. More information on the company and its services canbe viewed online at: https://www.flow.space
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