I am thrilled to share some Whitebox news. Today TechCrunch covered our $5M Series A. TDF Ventures led this funding round. New investor, David Williams, Chairman and CEO of Merkle, joined existing major investors such as Chris Brandenburg, Co-Founder and CTO of Millennial Media.
We could not be more excited about our team of investors. The operators on the TDF Ventures team, combined with very successful C-Level Executives and founders bring us an extended wealth of experience and market perspective to accelerate our growth plans.
White box will deliver eCommerce success for businesses and their customers by utilizing our technology and marketplace expertise to drive sales, dynamically fulfill orders, and delight consumers.
This is no small feat. The changing DTC ecosystem requires expertise across both the sell and buy side of eCommerce. Since 2013, we have remained steadfast in building the necessary technology, infrastructure, logistics and fulfillment solutions to meet the ever-changing demands of this growing economy.
This year, we were named one of the “6 Best 3rd-Party Logistics (3PL) Companies 2019” and one of the “6 Best Fulfillment Warehouse Providers 2019” by Fits Small Business. That recognition is important. As we continue to grow, putting our customers and their consumers at the center of our business will be critical to our ability to scale Whitebox.
In 2018, consumers spent $517.36 billion online with U.S. merchants, which represents an increase of 15.0% from $449.88 billion in 2017, according to an Internet Retailer analysis and U.S. Commerce Department data. While Amazon remains the titan; Walmart, eBay, Etsy, Jet (owned by Walmart, but operated separately), Alibaba and Overstock.com round out the top seven ecommerce marketplaces in the US, according to CPC Strategy. Earlier this year, Target announced Target+, its third-party, curated marketplace.
Part of the reason for the explosive growth? Ecommerce has given consumers near endless choice and optionality. They can choose to buy a single product, a multi-pack, a variety pack, shipped today, two day Prime, same day, whatever they want. And, they do not have to leave their digital device to make that purchase.
Brands, on the other hand, must battle through the challenges left by this explosion of optionality in selling and fulfillment. Will consumers be loyal to brands, marketplaces or stores? No one knows, we just want to enable brands to best serve their consumers’ needs.
Whitebox built its technology platform for brands to capitalize on direct to consumer trends and deliver a true eCommerce logistics solution. Our customers include large brands such as McCormick, Starbucks, and KitchenAid to challenger digital-native brands such as Kitu (makers of Super Coffee) and Bare Bones. We work with brands and/or sellers to maximize their marketplace investments on Walmart, Amazon, etc. and intends to expand its channel, seller and buyer relationships and solutions:
The bottom line is that we are selling for our brands and delivering for their customers. Powering the DTC Economy, by creating more direct connections with brands and delighted consumers, is core to our company mission.