Case Studies

Shelton, Connecticut

Logicbroker

Visit Site

As e-commerce continues to expand worldwide, logistics—the movement of goods from point A to point B—has become a critical strategic consideration for many businesses. Logicbroker, based in Shelton, Connecticut, has revolutionized logistics by developing the only cloud-based e-commerce platform to offer full drop-ship and marketplace functionality to suppliers, retailers, brands and 3PLs.

Drop shipping, a method whereby sellers purchase goods from third parties to fulfill orders (rather than stock inventory themselves), is an increasingly popular method of order fulfillment because it reduces the burden on retail supply chains by eliminating retailers from the process. Logicbroker’s cloud-based e-commerce platform connects all parties in the drop-shipping process and the systems they rely on, helping companies sell more product, increase revenue, improve the customer experience and quickly adapt to trends so they can remain competitive.

the support and resources

Milestones

  • Founded in 2010
  • Secured more than $135 million in funding in 2021

Founders
Peyman Zamani & Karim Hadchiti

CI Highlights

  • First investment: 2013
  • First investment amount: $750,000
  • Total invested: $1.75 million
  • Leverage: $2.25 million
  • Team lead: Douglas Roth

Jobs Created
30

“As with many startups, Logicbroker’s path to success was not a straight line. But once product-market fit was clear and the right team was assembled, the company saw steady, consistent quarter-over-quarter growth,” said Douglas Roth, CI’s managing director of investments. “Peyman recognized that drop shipping would be critical to omnichannel growth and built a platform to help businesses seamlessly manage the process. Today the company handles $5 billion in gross annual merchandise for brands like Hasbro, Fossil, Samsung and Coca-Cola, and is growing revenue by 80 percent year over year. It’s been incredible to have a front-row seat to the company’s meteoric rise and to play our small part in its success.”
Douglas Roth
Managing Director of Investments, Connecticut Innovations
the outcome

In 2021, Logicbroker raised more than $135 million of capital from K1 Investment Management, generating a record-setting return for CI, which CI can now invest in other promising Connecticut startups. Logicbroker will use the funding to expand its full-function drop-ship and marketplace services.