Spocket handles inventory and on-demand shipping for small online retailers. The startup is a marketplace for dropshipping, a retail fulfillment method that has developed as a new means for online sellers to start operating. When a customer acquires a product, the retailer purchases it from a third party and has it shipped directly.
The startup has more than 15,000 retailer customers that use its marketplace to sell clothing, home decor, and other products and, with the fundraising money, it plans to double its seven-person team. Spocket is also developing tools to integrate with social media platforms so that retailers are able to sell products to their Instagram and Pinterest followers directly.
Amongst the companies that participated in the fundraising round are Plug and Play Ventures, Panache Ventures, 7 Gate Ventures, and Mistral Venture Partners.
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