Funding will be used to hire world-class talent, expand development of new products and features, and accelerate the onboarding of new customers.
NEW YORK, July 27, 2022 – Shypyard, which provides modern brands and direct-to-consumer merchants with business planning products and services, announced it has closed a $3 million seed funding round led by Gradient Ventures. The round also included Liquid 2 Ventures, and participation from notable angel investors including current and former executives and founders at Shopify, BigCommerce, and SnapCommerce.
“The pandemic and Great Resignation accelerated a historic burst in entrepreneurship and innovation in commerce, setting the stage for millions of merchants to follow their passion and launch modern, omni-channel brands,” said Dan Li, co-founder of Shypyard. “We started Shypyard with the goal of empowering these up-and-coming entrepreneurs with the right tools and insights to grow their businesses.”
Now, as many upstart brands and entrepreneurs face economic uncertainty – some for the first time in their brand’s history – it is crucial for them to adopt fully-integrated tools like Shypyard for inventory, supply, demand, and replenishment planning.
“We’re a company built by and for merchants,” said Sam Chuang, co-founder of Shypyard. “Digital transformation in global commerce has completely changed the way we buy and sell, but the space is still very fragmented which makes seamless planning for a complex supply chain very challenging. We’re here to change that.”
Many businesses, especially those who lack large operations teams or access to heavily customized enterprise software to help forecast and adjust their inventory levels, often rely on complicated spreadsheets and inaccurate, stale data models to replenish their inventory and forecast demand – wasting valuable time and money in the process.
“The ability to streamline operations and accurately forecast inventory with supply chain constraints is critical for any business in today’s macroeconomic environment,” said Darian Shirazi, General Partner at Gradient Ventures. “We’re proud to back this team as they solve a huge pain point that spans many different industries."
By providing merchants with accurate, integrated planning tools for inventory, supply, demand, and replenishment, Shypyard helps alleviate the most common, and costly, pain points – consistent stock-outs, too much inventory tying up cash, difficulty predicting and forecasting, to name a few.
To learn more about Shypyard’s funding and its vision for the future of global commerce, visit www.shypyard.com/blog.
Shypyard helps modern, omni-channel brands grow, scale, and face economic uncertainty through better business planning. The company’s suite of products and services helps improve decision-making and efficiency, putting advanced analytics and intelligence, traditionally available only to large enterprise organizations, in the hands of up-and-coming merchants to help accurately forecast and adjust demand, replenish stock, and more. Shypyard was founded in 2020, and is based across Boston, New York City, and Taipei. For more information, visit www.shypyard.com.
About Gradient Ventures
Gradient Ventures, Google’s AI-focused venture fund, helps founders build transformational companies. The fund focuses on helping founders navigate the challenges in developing new technology products, using the latest best practices in recruiting, marketing, design, and engineering so that great ideas can come to life. Gradient was founded in 2017 and is based in Palo Alto, California. For more information, visit www.gradient.com.