Mark Cuban Joins Deep Space Ventures In $1 Million Dollar Round For Dallas Startup Selery
Dallas e-commerce logistics startup Selery, is celebrating a startup win for the Dallas startup ecosystem. Again, showing the world that startup ecosystems everywhere else, work together to bring about the rise of the rest. Just earlier today we wrote about how CommonEdits is celebrating a win at the hands of the Northern Texas startup ecosystem.
Selery fulfillment was founded by Justin White, in 2014 as a startup that was helping sell off excess inventory. Through their excess inventory business model they had a customer that also needed help with logistics, shipping and fulfillment. After recognizing that need for logistics, shipping and fulfillment at the small and medium sized business level, White and the team started testing the market for those services, reports dmagazine.com.
After pivoting to doing just that, Selery was reborn in 2016.They help small and medium sized e-commerce businesses compete by providing quick turnaround for fulfillment and shipping. They even handle boxing and packaging for it’s customers. That’s when the company was able to make it into the Tech Wildcatters accelerator program in Dallas. The nationally recognized accelerator was able to help Selery secure $350,000 in seed money. Tech Wildcatters participated in the round as did several other investors tied to the organization.
Selery was able to secure a deal to provide fulfillment services for Mark Cuban’s portfolio companies. The Dallas based investor, Mavericks owner and Shark Tank Shark, was impressed with the results from the relationship that started about a year ago.
Now, Dallas based Deep Space Ventures along with Cuban, have invested $1 million dollars into the company. Deep Space contributed $700,000 in addition to Cuban’s $300,000. Selery expects to increase their staffing by hiring an additional 30 employees. They will also be moving into a 100,000 square foot warehouse space.
“We just grew a lot faster than we thought,” White said, adding that keeping up with the expansion has been challenging. “We’ve moved four times in 18 months.”
“They are well-positioned to be a leader in the logistics space,” Cuban said. “They not only have great technology and people, but I think hiring rather than contracting will give them a performance and cost advantage.”
“This is a great example of what can be done in the Dallas startup ecosystem,” Stephen Hays, Managing Partner of Deep Space Ventures told dmagazine.com.“This is a Dallas startup that was helped along by a Dallas accelerator and has been funded by Dallas investors. It’s a great story for what we are all working together to build in this ecosystem.”
You can find out more at seleryfulfillment.com