Swap, an e-commerce operating system (OS) company, announced that it has raised $40 million in a Series B funding round led by ICONIQ Growth, with participation from previous investors Cherry Ventures, QED Investors, and 9900 Capital.

Company Overview

Founded in 2022 by Sam Atkinson and Zach Bailet, Swap offers a comprehensive platform that consolidates various logistics functions for direct-to-consumer e-commerce brands. The platform integrates cross-border shipping, order tracking, return management, and inventory forecasting into a single system, reducing the need for multiple service providers. Prior to co-founding Swap, Atkinson worked as a corporate lawyer and at business banking startup Juni, while Bailet had experience at Deloitte and textile manufacturing company Tefron.

Funding Details

• Amount Raised: $40 million in Series B funding.
• Lead Investor: ICONIQ Growth.
• Participating Investors: Cherry Ventures, QED Investors, and 9900 Capital.
• Total Funding to Date: $49 million.

Business Model & Future Plans

Swap generates revenue by providing e-commerce brands with a unified platform to manage logistics operations, thereby streamlining processes and reducing costs associated with multiple service providers. The company plans to utilize the new funding to expand its presence in the U.S. and European Union, as well as to enter new markets including Australia and Canada. Additionally, Swap intends to penetrate underserved verticals such as beauty, home goods, and consumer technology. The company is also set to launch new products, including Swap Inventory, which offers AI-driven recommendations for inventory restocking and replenishment to avoid overstocks and stockouts.

Market Impact & Competitors

With this latest funding, Swap aims to strengthen its position in the e-commerce logistics market by offering an all-in-one operating system that addresses various operational challenges faced by brands. The company’s platform competes with other players in the e-commerce logistics space, such as Global-E, Syrup, and Autone. Swap differentiates itself by consolidating fragmented global e-commerce operations into a cohesive platform, providing brands with a unified solution for their logistics needs.

Conclusion

Swap’s recent funding round underscores its potential to revolutionize e-commerce logistics by offering a unified platform that streamlines operations for direct-to-consumer brands. With plans for international expansion and the introduction of AI-driven inventory management solutions, Swap is well-positioned for significant growth in the evolving e-commerce landscape.