ATLANTA, November 29, 2022 — Saltbox, Inc., a pioneer in flexible co-warehousing and small company logistics, announced a USD 35 million Series B fundraising round today. The investment was co-led by the Atlanta-based and family-owned Cox Enterprises Inc, a broadband, automotive, and media industry giant, and Pendulum, a strategic growth investing and consulting platform created for creators and executives of color and a prior Saltbox investor.
Saltbox’s total capital now stands at USD 56 million, thanks to this Series B round. Among those who contributed to the round were Playground Global, XYZ Capital, Fundraise, Kapor Capital, l, Colliers, Lincoln Property Company,Wilshire Lane Capita, Flexport, and Overline. The funding will go toward developing Saltbox’s core technology stack, which will power its end-to-end logistics platform for small and growing eCommerce businesses.
“Since day one, our major focus has been to assist small and medium-sized enterprises in navigating the problems of their whole logistics stack, from warehousing to shipping and beyond. Saltbox’s next move is to develop logistics and fulfillment technologies while simultaneously expanding our physical, human-centric locations for members “Tyler Scriven, CEO and Co-Founder of Saltbox, stated “With the help of Cox, Pendulum, and our other investors in this critical Series B round, Saltbox will continue to disrupt the logistics and fulfillment space by investing in our unique offerings, whether it’s workspace, fulfillment, or on-demand labor solutions.”
Saltbox more than doubled its growth in 2022, expanding its flexible warehouse network to ten locations, including new co-warehousing locations in Alexandria, Virginia; , California; Duarte, Carrollton, Texas; Arden Hills, Minnesota; and a second location to support its flagship facility in Atlanta’s Upper Westside neighborhood. In addition, the firm launched its first fulfillment center in Dublin, Ohio, a key position in the Columbus, Ohio region that allows members to access 67% of the entire U.S. population via 2-day delivery.
This momentum comes on the heels of a successful 2021, during which Saltbox expanded into the Los Angeles area in Torrance and Denver, Dallas-Fort Worth, and Seattle. It also offers fulfillment services for small and medium-sized businesses. Saltbox concluded its USD 10.6 million Series A financing in March 2021.
Saltbox uses human-centric logistics solutions to solve the most challenging aspects of running an eCommerce business. Saltbox addresses the most critical challenges that eCommerce entrepreneurs face when starting, growing, and scaling their businesses with a purpose-built network of flexible warehouses in major metropolitan areas, fulfilment centers, and on-site services across the country.
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