EquaShip Fills Out Fundraising Round, Now at $1.5M

12/6/11Follow @curtwoodward

EquaShip, the Seattle startup that’s aiming to wrangle dramatically cheaper shipping costs for small and medium-sized businesses, has added another $600,000 in financing from undisclosed investors. That pushes the startup’s total funding to $1.5 million, following the announcement of a $900,000 investment in June.

EquaShip rolled out its service in October, targeting the small sellers—many of them doing business on eBay and Amazon—who don’t get big-account treatment fro FedEx and UPS. Founder and CEO Ron Wiener says there are millions of those businesses around the country, and EquaShip says it can offer them rates that are “typically 28 percent to 79 percent below UPS and FedEx residential ground rates.”

EquaShip does that by partnering with smaller carriers, who funnel packages through the U.S. Postal Service for final delivery—what’s known as a consolidator service. EquaShip also offers package tracking and insurance. The company plans to use the new investment to add software features and drop-off locations.

Curt Woodward is a senior editor for Xconomy based in Boston. Email: cwoodward@xconomy.com Follow @curtwoodward

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  • http://www.kingsparkshipping.com John Nobles

    We are a retail shipping store and signed up only to have many issues and be told they have shelved the retail shipping stores from using there service for now because they don’t really have everything ready for a true rollout.

  • The_Gent

    Great idea – was not ready for prime time (not even close). I predicted they would last five months. They limped into six months of survival. I feel pretty bad for the people who threw cash down for the second round of financing. They were truly sold a bill of goods. The crew at the helm of decision making at Equaship won’t be likely to find much to do in this town (that’s another prediction).