Flowspace, an on-demand warehousing and fulfillment technology company, has raised $12 million in funds to improve its cloud-based platform and expand its network.
The Series A funding round was led by Canvas Ventures, with participation from Moment Ventures, 1984 Ventures and Y Combinator. Paul Hsiao, general partner at Canvas Ventures, has joined Flowspace’s board.
Culver City, California-based Flowspace, which was founded in 2017, previously raised $3.4 million in seed funding.
Flowspace said it aims to transform how businesses manage warehousing and fulfillment, especially for ones that have multichannel needs amid the growth of e-commerce. The company said it offers cloud-based inventory, order and warehouse management software, a nationwide warehouse network reaching every major U.S. market, and flexible month-to-month pricing.
Flowspace co-founder and Chief Executive Ben Eachus said he sees huge potential for the company moving forward.
“Our vision is to become the fulfillment infrastructure for any company with inventory,” Eachus said. “We provide a massive warehouse and fulfillment network, real-time visibility into inventory levels, and an easy-to-use software….We look forward to expanding our footprint, accelerating growth, and increasing investment in our platform.”
“Flowspace customers – enterprise, small and mid-size businesses, importers, manufacturers, and e-commerce retailers – rave about its platform and best-in-class service” Hsiao said in a statement. “I’ve been impressed with the team, their pace of innovation and ability to scale. Flowspace continues to raise customer expectations for the space every day and is well-positioned to lead this category.”
Silicon Valley-based Canvas Ventures’ key investment areas include AI/machine learning, marketplaces, and new enterprise. Its partners have invested in and worked with technology startups including Mulesoft, Upwork, Boingo and Lending Club.
COURIER-MESSENGER, INC. – BIG OR SMALL WE SHIP IT ALL