Flowspace – How does it work? The logistics and fulfillment startup Flowspace raises $ 31 million
Flowspace is the most flexible, reliable, and easy-to-use cloud-based logistics platform for businesses of all sizes to store, manage and secure their inventory.
It offers storage space for businesses on demand. It takes care of storing, transporting, and maintaining your inventory every month without running out of space.
Moreover, flowspace operates warehouses in all major metropolitan areas with significant locations in Los Angeles, Ontario, Oakland, Pennsylvania, and Chicago.
And also, it is the fastest and easiest way to store, manage and replenish your inventory in over 1000 certified warehouses and fulfillment centers.
Whether it’s two-day delivery to your customer’s door or managing restocking at your retail store, only Flowspace has the technology, expertise, and scalability to accelerate your growth.
How does Flowspace work?
1. Optimize your multi-channel performance requirements
- It connects to your online stores and retail stores. It has built-in integrations with shopping carts,
marketplaces, and retail stores.
- Flowspace makes it easy to connect your sales channels and ship your orders quickly and accurately.
- And also, orders are accepted as soon as they are placed.
2. Easily coordinate order fulfilment
- Flowspace ensures that your orders are shipped and delivered at the lowest possible cost.
- However, track your orders in detail with a real-time view of the entire fulfillment process.
3. Manage supplies with confidence
- You may stay one step ahead of low stock levels and keep your items in stock with real-time stock visibility, low stock alerts, and a predictive view of remaining stock.
4. Improving delivery efficiency
- Get real-time information and guidance to optimize processes and reduce costs.
- And also, store your groceries closer to the shopper to save time and money when shipping with Flowspace.
5. Responsive support from real people
- Flowspace has a dedicated support team that focuses on your growth.
- And also, get fast response times, 30 days of hands-on connectivity, and a warehouse link that acts on your behalf.
The logistics and fulfillment startup Flowspace raises $ 31 million
- Warehouse-on-demand startup Flowspace today announced a $ 31 million Series B equity financing round.
- Flowspace, based in Los Angeles, Calif., Says BuildGroup will expand its fulfillment center network to support the continued growth caused by the pandemic.
- However, the company reports that the number of orders sent on its platform has increased tenfold over the past year.
- And also, the demand for warehouse services is growing. Before the COVID-19 crisis, around 35% of industrial leasing transactions were related to e-commerce, according to a JJL report.
- As early as July, up to 50% of these leasing activities were in the online retail sector.
- JJL predicts that industrial real estate demand will increase by 1 billion square feet by 2025.
- Founded in 2017, Flowspace offers fulfillment and sales services, warehouses, and a team of staff to help collect, package and ship products.
- However, customers can track incoming and outgoing shipments to and from warehouses.
- And also, it accesses a network analysis tool for real-time analysis and logistics advice.
- Companies get an overview of all products in their Flowspace warehouses. And they can see inventory, orders, and things to do.
Flowspace uses artificial intelligence
- According to co-founder and CEO Ben Eheus, Flowspace uses artificial intelligence and machine learning to generate predictive data.
- The retailers and e-commerce companies can use the data to anticipate market demand and inventory levels in these locations.
- “From the moment an order is sited on the website until someone receives it, it is tracked in our software.
- Our software is already running in (100) hundreds of warehouses using Flowspace for e-commerce,” he said.
- “This means that with a single point of integration, brands can store and ship their products from multiple locations to offer their customers faster, cheaper shipping.
- Historically, this process takes weeks or months. But with Flowspace, you can do this in a few days.
- A McKinsey report found that most companies saw a reduction in supply chain planning costs after adopting AI.
- The plant-based startup Nuggs has increased monthly orders by 460% since implementing the Flowspace solution.
- “It is widely reported that the pandemic has accelerated the growth of e-commerce. For every $ 100 that is spent online, companies spend $ 20 on storing and shipping these products to customers.
- We support brands that sell products online and help them deliver products to their customers more efficiently,” continued Eachus.
- And also, “We are building the most scalable and cost-effective fulfillment platform in the industry.
- It won’t happen overnight, but you will transport those products through the Flowspace platform when you order
something online in a few years. “
- With the B-series, Flowspace, with 80 employees, has raised a total of 46 million US dollars so far.
- Previous investments were from Canvas Ventures, Industrious Ventures, Moment Ventures, 1984 Ventures, gateway Capital, and Y Combinator.
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