E-Commerce tech startup Whitebox bags $20 million in funding to help brands and manufacturers win more sales
Whitebox, a Baltimore, Maryland-based tech startup that provides e-commerce marketing, automation, and fulfillment services to streamline e-commerce operations, has raised $20 million in an additional financing round led by Delta-v Capital, with participation from existing investors are increasing their support, among them Noro-Moseley Partners, TDF Ventures, MRE Capital, and Kilkea Charles.
In a statement, Whitebox said it will use the additional funding proceeds to support the growth of the e-commerce company in supporting direct-to-consumer (DTC) brands and advance its e-commerce tech product and services.
Founded in 2013 by Robert Wray, Sean Clark, Stephen Jensen, Whitebox helps brands and manufacturers win more sales and reduce costs in one powerful platform solution. Whitebox’s full-service marketplace growth agency also optimizes the selling and advertising of goods across all relevant channels, while its fulfillment centers operate a high-volume, low-defect network so brands can reach customers where they shop.
The fresh cash infusion will also enable Whitebox to fend off competition from companies like ReliaSource, DP Solutions and accelerate enhancements of its proprietary Omnifi technology platform while scaling operations by investing in people to meet unprecedented demand.
Delta-v is a growth-oriented investment firm with a long track record of identifying category leaders. Additionally, existing investors are increasing their support, among them Noro-Moseley Partners, TDF Ventures, MRE Capital, and Kilkea Charles.
“In the hyper-competitive e-commerce space, Whitebox is in a category alone,” said Garrett Marsilio, Principal at Delta-v. “The team’s differentiated expertise, augmented by sophisticated marketing and fulfillment technologies, provide unmatched value to brands. Whitebox is experiencing accelerating growth, and we are thrilled to support them.”
Whitebox plans to focus the investment on its technology and teams. Its proprietary Omnifi technology is powering greater insight across e-commerce channels to increase sales and reduce costs for customers. On the logistics front, Whitebox is building out its network capacity to deliver even greater flexibility and customization for clients with increasingly complex needs. The Baltimore-based company will also use the funds to hire more senior talent to steer the business forward. In November, the company named Kenneth Lim as Chief Revenue Officer.
“Brands today need to do well in so many areas to grow profitably in e-commerce,” said Marcus Startzel, CEO of Whitebox. “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.”
Startzel continues, “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 additional investment not only validates the continuous momentum we’ve achieved but will enable us to advance our technology to leverage disparate data sets and deliver winning strategies across the marketing funnel and deep into operations.”