EquaShip raises $900,000 to launch FedEx, UPS rival |
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EquaShip raises $900,000 to launch FedEx, UPS rival
Seattle startup EquaShip has raised $900,000 to launch a shipping service aimed at smaller online retailers.
Angel investors from the Seattle and Bay Area participated in the round, though the company didn't name individual investors. Newell Rubbermaid, which owns the DYMO shipping technology brand, also joined the round. Scott Galovan, director of Newell Ventures, will join EquaShip's board.
The startup is looking to take on shipping giants like FedEx, UPS and USPS when it launches its shipping service this holiday season. EquaShip said it's targeting the e-commerce market, particularly small-to-medium sized retailers, and can offer shipping prices that are 30 percent lower than FedEx or UPS.
The new funding round will be used to support the new service and build a customer care center slated to open in September 2011.
The startup is led by CEO Ron Wiener, founder of Earth Class Mail. Board members include former Amazon logisitics guru Shawn Childs and Rob Martinez, the CEO of Shipware, a parcel consulting and auditing firm.
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