Tuesday, April 16, 2019
Flowspace Finds $12M For On Demand Warehousing
Culver City-based Flowspace, a provider of "on-demand" warehousing and fulfillment services to businesses, has raised $12M in a Series A funding round, the company announced this morning. According to Flowspace, the round was led by Canvas Ventures, and also included Moment Ventures, 1984 Ventures and Y Combinator. Flowspace has now raised a total of $15.4M in funding, including an earlier $3.4M seed funding it receivedin 2017. According to Flowspace, the new funding will go to advance its cloud software platform, expand its warehouse and fulfillment network, and to accelerate growth at the company. Flowspace is led by co-founder and CEO Ben Eachus, and manages what it says is a national network of on-demand warehousing and fulfillment centers, enabling one and two-day delivery for both e-commerce and other businesses. The company leverages the excess capacity of existing warehouse and fulfillment services, connecting them into its network using its own warehouse management software (WMS). Eachus is a veteran of The Honest Company, where he was in charge of improving the e-commerce firm's supply chain efforts. His co-founder and the company's CTO is Jason Harbert, who has had stints at Insurance321.com and Oversee.net, and is based in Cincinnati.