Shipwell More than Triples Year-Over-Year Revenue in 2021

Forecasting & Performance ManagementPipeline & Analytics

By STS Staff Writer On Jan 27, 2022

Shipwell More than Triples Year-Over-Year Revenue in 2021

The supply chain management company grew by 305% this past year compared to 2020

Mid-market customer acquisition grew by 68% in 2021 relative to 2020

Shipwell strengthened its team with several executive hires and its suite of offerings with new products introduced in 2021

Shipwell, an industry leader in cloud-based shipping and logistics, announced that the company more than tripled revenue in 2021, reporting 305% year-over-year growth compared to 2020. The supply chain management startup last year also enjoyed a 68% year-over-year increase in mid-market customers. Those customers generate annual revenues that average more than $100 million.

“We had the highest customer rating this past year on Gartner’s Peer Insights with a 4.7 — proof of our ability to deliver”

Shipwell’s overall revenue and customer base growth has been focused in key verticals including food and beverage; manufacturing; paper, pulp and packaging; and, retail.

Shipwell’s expansion also demonstrates the company’s unique ability to respond to pandemic-driven and other causal changes to the supply chain marketplace. This success is a direct result of the company’s easy-to-use, cloud-based transportation management system (TMS) that offers real-time visibility and personalized data analytics while leveraging artificial intelligence to track shipments and predict estimated arrival times. Shipwell’s fully connected solution makes it possible to automate the entire shipping process in one place and ultimately lower costs with powerful insights and analytics, all without having to rip and replace.

“Mid-market companies, which made up 68% of Shipwell’s new customer logos in 2021, are increasingly looking for a TMS solution to turn their supply chain into a competitive advantage,” said CEO and co-founder Greg Price. “We combine the power of people with our platform to provide a holistic shipping solution that propels businesses forward.”

“We had the highest customer rating this past year on Gartner’s Peer Insights with a 4.7 — proof of our ability to deliver,” Price said. “And, we maintain an all-time Net Promoter Score of 63.”

Industry Awards and Recognition

Shipwell in November ranked fourth on the Deloitte Technology Fast 500, a list of the 500 fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America. Having grown an impressive 32,670% during a three-year period, it is no surprise why.

The company followed up that trophy by winning its second-consecutive Supply & Demand Chain Executive’s Green Supply Chain Award in December. The award recognizes companies making sustainability a core part of their supply chain strategy and achieving measurable goals within their operations. Additional industry recognition in 2021 included the Food Logistics 2021 Top Software & Technology Providers, the AustinInno Fire Awards, and the FreightWaves FreightTech Top 100.

“Several industry experts and market research reports show how Shipwell — regardless of the pandemic, shortages, natural disasters and other supply chain disruptions — maintains sustainability as a top priority in the supply chain,” said Marina Mayer, editor-in-chief of Supply & Demand Chain Executive and Food Logistics, at the time.

Platform Expansion and Innovation

Major launches of the past year consisted of its advanced Pricing Intelligence tool in April, Compass Dashboard product in May and Responsive ETAs product in August.

The Pricing Intelligence tool provides shippers with personalized rate forecasts for up to 14 days in the future based on internal data and current market trends. Shippers can also use this tool to benchmark their historical shipping spend against the market average to pinpoint areas for additional savings.
The Compass Dashboard continuously monitors all shipments throughout the shipment lifecycle from a central location on the platform. By proactively identifying issues and providing guided actions to address them instantly from the dashboard, shippers can see a 98% on-time delivery and pickup rate.
Responsive ETAs provide shippers with at-a-glance status updates for estimated arrival times for shipments en route. Logistics managers see which shipments are on time, which are running late and which are at risk of missing their scheduled delivery time.

Personnel Growth and Strategic Hires

Shipwell increased its overall staff by 16% in 2021 to further support the company’s rapid market growth and position itself for strategic expansion in 2022. Key hires during the past year that contributed to Shipwell’s rapid growth included:

Brad Hoffman as Vice President of Sales
Chris Preboth as Vice President of Logistics
Edward Chenard as Senior Director of Data Science and Analytics
Jerome Holbus as Vice President of Product
Sam Mody as Director of Sales
Aviad Benzikry as Director of Product Marketing
Michael Hein as Director of Professional Services, a department that Shipwell launched in 2021

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.