Baltimore ecommerce company Whitebox raised $18 million in Series B funding and is planning to continue growing its development and product teams as it builds out tech capabilities, CEO Marcus Startzel said.
The round was led by Atlanta-based growth equity firm Noro-Moseley Partners. Existing investors based in Maryland also participated: Chevy Chase-based TDF Ventures; TCP Venture Capital’s Propel Baltimore Fund; David Williams, chairman of Columbia-based performance marketing agency Merkle; and Chris Brandenburg, cofounder of influential Baltimore mobile advertising company Millennial Media. With this round following June 2019’s Series A, Whitebox has now raised $27.6 million.
The round further propels Whitebox, which has already been on a run of growth. The company works with both big brands and direct-to-consumer startups to market, fulfill and ship ecommerce orders from across different marketplaces. There are lots of details to figure out in this process to maximize value, from how to bundle a product to where to store it to how to list it. Ecommerce was already a quickly growing category, and has only expanded as the COVID-19 pandemic led many to turn to online ordering.
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