Buku Shipping Inc.

Buku Shipping Inc. specializes in logistics solutions, streamlining shipping and customs processes for businesses involved in domestic and international commerce through a comprehensive digital platform. Buku Shipping Inc. provides logistics services focusing on shipping and customs processes.

Founded in 2019 in Lehi, US, the company has experienced growth and raised funding through a Series A round. The co-founders include Corbin Matthews, Ken Forrest, Kenneth Forrest, and Kenny Fung, with Ken Muir serving as CEO. In December 2021, Buku Shipping Inc. secured USD 5 million in Series A funding led by FrameVC, bringing the total amount raised to USD 5 million.

BUKU Ship Solutions offers a comprehensive suite of logistics services designed to streamline shipping and customs processes for businesses engaged in domestic and international commerce. Their core offerings include an integrated platform that ingests, matches, and audits carrier invoices from major shipping carriers such as USPS, FedEx, and DHL. This service aims to reconcile billed charges against actual shipments, ensuring financial clarity and margin accuracy for clients. Additionally, BUKU provides dynamic pricing capabilities, allowing businesses to apply flat or percentage-based markups on domestic carrier rates and adjust pricing based on specific clients, carriers, or service levels.

Their ParcelDetails database enables users to track gross margins per shipment, providing insights through Power BI dashboards to identify cost drivers and reduce margin leakage. BUKU serves a diverse client base, including e-commerce platforms like Shopify, as well as various businesses operating in markets across North America, Europe, Australia, and Canada. The revenue model of BUKU Ship Solutions is primarily based on B2B transactions, where they partner with logistics providers and e-commerce businesses to facilitate shipping solutions. Their services include API-based integrations for shipping rate calculations, invoice auditing, and customs compliance management, which are vital for clients engaging in international trade.

BUKU Ship’s flagship product, IntelliRate, enhances transparency in shipping costs by enabling real-time rate comparisons and duty calculations at checkout, which directly impacts customer satisfaction and operational efficiency for their partners. Clients benefit from subscriptions or partnership agreements that provide access to these services, alongside potential commissions based on shipping volume. Through their offerings, BUKU Ship Solutions enables businesses to optimize their logistics operations while ensuring compliance with international shipping standards. In December 2021, Buku Shipping Inc.

raised USD 5 million in Series A funding to support its platform expansion and enhance AI capabilities for providing real-time shipping intelligence. The company plans to leverage this funding for sales and marketing efforts aimed at increasing market penetration and customer acquisition. Future initiatives include the development of new products designed to optimize logistics operations, as well as plans to expand into new regions including Europe and Australia by 2023.