Since its start in 2012, AfterShip has developed a suite of data analytics solutions that span nearly every stage of the buying experience, from email marketing to customer retention. The company first developed the tools to enable online retailers to monitor goods across several carriers.
The firm with its headquarters in Hong Kong has secured a $66 million Series B round of funding, which was headed by Tiger Global and included Hillhouse Capital’s GL Ventures.
In 2014, AfterShip received a $1 million Series A round of investment. According to co-founder Andrew Chan, the business has been profitable from its inception and has expanded mostly through word-of-mouth recommendations and collaborations.
However, the business just expanded its sales force and will utilise its most recent funding to hire people from outside to work in sales and customer service. Considering that 70% of AfterShip’s clients are in the United States, it also has ambitions to provide new goods and grow there.
The company’s software manages more than 6 billion shipments annually and allows merchants to track shipments across more than 740 carriers. About 10,000 businesses are AfterShip partners, including some of the most well-known names in e-commerce, such as Shopify (where it is used by 50,000 merchants), Magento, Groupon, Amazon, Squarespace, Etsy, eBay, Rakuten, Wish, and retail giants like Dyson and Inditex.
Although its shipment monitoring platform is its main offering, AfterShip also creates applications for consumers, including ones for self-service returns and parcel tracking, as well as sales and marketing solutions for retailers that help them make better use of shipment data. With the use of AfterShip’s tools, retailers may design custom tracking pages and notifications. They can track the effectiveness of various carriers, build email marketing campaigns, and improve client retention thanks to other capabilities.
AfterShip sets itself apart from competing shipment monitoring aggregator providers because of its CRM capabilities. AfterShip leads the way in making the transportation process more transparent and dependable for customers and enterprises alike, said Pengfei Wang, global partner at Tiger Global, in a news release.
We are thrilled to collaborate with AfterShip and its executive team as they continue to enhance technology in this crucial and increasing business as e-commerce growth spirals ever higher.