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uShip Raises $18 Million to Expand Shipping Marketplace

By Ina Steiner
December 21, 2012, an online marketplace for shipping, has raised $18 million from Kleiner Perkins Caufield & Byers (KPCB). uShip will use the funding to extend its commercial freight platform, mobile platform and global presence.

uShip works by bringing individuals and businesses who need something shipped together with services and carriers who can ship the items. The site explains, “Consumers and businesses can compare and book upfront quotes, name their own price or receive auction-style bids from 300,000 customer-reviewed Transportation Service Providers, ranging from independent owner-operators to the largest freight carriers and brokers.”

The marketplace has over 1.6 million shipping customers and 325,000 registered carriers. uShip founder and CEO Matt Chasen said, “Kleiner Perkins funding and resources will propel uShip’s next phase of growth. Commercial freight is trending toward complete automation and greater efficiency, meaning uShip’s PRO platform has the opportunity to impact the entire industry, from enterprise shippers to freight brokers to carriers.”

Maritza Liaw, Partner at KPCB, will join uShip’s Board of Directors, and said, “We see a huge opportunity for growth in the commercial sector.”

uShip is localized in 18 countries and regions on five continents, and plans to expand its marketing and development efforts in Latin America and Europe.

The latest financing brings the total capital raised by uShip to $28 million. KPCB joins institutional investors Benchmark Capital and DAG Ventures, each of which participated in earlier rounds.

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