Founding a startup is like starting to push a boulder up a hill. First the founder’s hands on are it. Pushing hard. Then you get a team, customers, partners. You’re convincing more and more people to push with you. Our early investment Shyp is announcing they’ve added some skilled new investors to help them push. Last September we led their seed round financing and now we’re excited to continue our support in their $10 million Series A round. The boulder is moving up the hill.
What is Shyp? They’re the best way to send anything - whether you’re a consumer returning that pair of shoes you didn’t like; an eBay seller or Etsy maker avoiding hours spent dealing with packaging; a small ecommerce retailer who can’t afford to dedicate time and energy to become a logistics specialist; or an office manager, marketing rep or salesperson that has more important work to do than find the start of the packaging tape roll. Today Shyp is available in San Francisco and next up is New York City (sign up here to be notified of their east coast launch).
Shyp’s announcement details some of the fantastic growth they’ve seen in the product and business this year, which are large parts of this momentum, but honestly when we reflect on the last 10 months of working with Joshua and Kevin, there’s something else which has impressed us even more: the quality of the team. Having started with a core group at the time of funding, Shyp has since attracted engineers, designers and operations talent from companies like Airbnb, Groupon, and TaskRabbit. They’ve done this not by creating a lot of noise in the press or trying to tout cutesy perks, but by offering a killer combination of a great mission, great work, great culture and great career and economic upside. By the way, they’re still hiring.
So congratulations to Team Shyp on this milestone and to Sherpa Ventures for leading the A Round!