HubBox closes $1.6m funding round led by KM Capital

We’re delighted to announce that HubBox has closed funding rounds totalling $1.6m in 2017, the most recent tranche led by venture capital fund KM Capital (KMC).

Founded in 2015, HubBox has developed the UK’s first software that allows any retailer to implement a local Click and Collect option through its nationwide network of 3,500 collect points. The software, built in London by HubBox’s development team, already serves over 100 retailers, including Jack Wills and Warehouse.

HubBox was launched in order to enable any online retailer to offer their customers local collection options. Despite its growing popularity amongst shoppers, with 74% of customers saying they expect retailers to offer Click & Collect (Temando 2016), providing the service has largely remained the purview of the UK’s biggest retailers.

“The traditional model can be quite inflexible, as providing Click and Collect services is courier-dependent and often accompanied by prohibitive development costs”, said Sam Jarvis, CEO and cofounder at HubBox. “By providing customisable software at no additional cost and enabling retailers to continue delivering with their current courier, HubBox becomes accessible to any retailer, large or small.”

The most recent round of funding includes a number of new and returning investors, including Angel Tech Investors (ATI), Nexus Investment Ventures (NIVL) and Alan Halsall, former CEO of Silver Cross Prams. Rob Fraser, ex-CIO of Boots and Sainsburys, has also joined HubBox as a Director and Chairman. He said:  “Customer choice and convenience are critical drivers for success in online retailing. I’m delighted to join HubBox, who are redefining what ‘great’ looks like for Click and Collect.”

KMC focuses on investing in tech-led startups, and HubBox are delighted to have them on board.

“We believe that the convenience of shopping online is not mirrored in the convenience of delivery options. We’re passionate about delivering a solution that works for every retailer and we’re very excited that Adam and the team at KMC have come to support our ambitions – their knowledge of retail, especially fashion, is second to none.”

Adam Kamani of KMC explained why they had decided to back the tech company: “We seek to identify entrepreneurial teams that can scale dynamically and have the potential to transform their respective industries. We’ve found this in HubBox – their Click and Collect technology and proposition signals a real innovation within the existing marketplace.”