The ecommerce platform Whitebox collected USD 18million in its B-Series round of funding on 24th September 2020. The funding was led by the Noro-Moseley Partners and was joined by the existing investors as well.
Whitebox works with both the big brands and the direct-to-customer businesses to fulfill ecommerce orders across the marketplace. This funding will add to the growth of the Whitebox, which is already running with a good success rate.
The funding round
Atlanta based closed equity venture Noro-Moseley Partners led this funding round of Whitebox wherein Maryland’s existing investors also participated. These counted TDF Ventures from Chevy Chase, the Propel Baltimore Fund of TCP Venture, Chris Brandenburg (the cofounder of Millenial Media), and David Willians (chairman of Merkle – the Columbian performance marketing agency). Adding the Series-A funding, Whitebox has bagged a total of USD27.6 million till now.
Presently, Whitebox is a team of 125 people, who were just 40 during its Series A funding. Whitebox offers complete solutions for manufacturers and brands for achieving exuberate business results. Whitebox aims at increasing sales and cutting costs in single platform solutions. The enterprise is presently headquartered in Baltimore.
With the received funding, Whitebox has planned not to increase the operations or adding new areas but will focus on building their platform. Along the line, the company is looking forward to building up its sales and marketing team and adding tech talent. They are also going to build their solution centers. Whitebox currently has its fulfillment centers in Memphis and Las Vegas, and is planning to open another one in the Midwest next year. They feel it is essential as the prime focus of the company is to provide a platform that provides statistics and also aids in advertising. They also build software that puts labels on the boxes.
Noro Moseley-lead investor of the funding round
The funding was led by Alan Taetle, from Noro Moseley Partners. Noro Moseley Partners is an Atlanta background Venture Capital firm that majorly invests in initial staged IT and health endeavors. The company was founded in 1983 and, with time, has created a good network of thriving entrepreneurs, partners, co-investors and management talent that supports its portfolio companies quite well. Since 2019, the VC has represented over USD 3 billion in company value.
Whitebox
Whitebox is a Baltimore headquartered ecommerce company that deals with the management of ecommerce logistics. The proprietary technology of Whitebox combines supply and demand in a data-driven system that provides flexibility, speed, and transparency. The various services offered by Whitebox are marketplace management, listing optimization, warehousing, returns management, insights and statistics.
