Saltbox is a co-warehousing and logistics startup that provides space for small businesses and e-commerce merchants to operate as well as store and ship goods, all under one roof.
Today, the Atlanta-based company announced a $35 million Series B funding round.
The investment was co-led by Cox Exterprises Inc and Pendulum, a strategic growth investing and advisory platform designed for founders and leaders of color and previous investor in Saltbox.
This Series B round brings Saltbox’s total funding to $56 million. The round also included investment from Playground Global, XYZ Capital, Fundrise, Kapor Capital, Wilshire Lane Capital, Colliers, Lincoln Property Company, Flexport and Overline among others.
Funding will support developing Saltbox’s core technology stack powering its end-to-end logistics platform for small and growing ecommerce businesses.
“Supporting small-and medium-sized businesses as they navigate the challenges of their entire logistics stack, from warehousing, to shipping and more has been our main goal since day one. The next step for Saltbox is to advance our logistics and fulfillment technology while also continuing to expand our physical, human-centric spaces for members,” said Saltbox CEO and Co-Founder Tyler Scriven.
In 2022, Saltbox more than doubled its growth, expanding its flexible warehouse network to ten locations, including new co-warehousing locations in Alexandria, Virginia; Duarte, California; Carrollton, Texas; Arden Hills, Minnesota; and a second location in Atlanta’s Upper Westside neighborhood to support its flagship facility.
The company also opened its first-ever fulfillment hub in Dublin, Ohio – a strategic location in the Columbus, Ohio market that allows members to reach 67% of the total U.S. population via 2-day shipping.
This momentum follows a successful 2021, in which Saltbox expanded its footprint into the Los Angeles area in Torrance, as well as Denver, Dallas-Fort Worth, and Seattle. It also launched fulfillment offerings tailored to SMBs. Saltbox closed its Series A round of $10.6 million in March 2021.
Later this year, Saltbox plans to open locations in two new cities: Tempe, Arizona and Doral, Florida, with additional plans to open a second Florida location early next year in Tampa, Florida.
Of Saltbox’s more than 500 members across its ten co-warehousing locations, more than 70 percent are ecommerce companies that sell physical goods directly to consumers.
These SMBs span numerous industries including fashion and apparel, health and beauty, home goods, resale, and tech in the hardware and services sectors. Half of Saltbox member businesses are led by women or people of color.
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