# BEST

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/best-2

- Industry: Logistics & Distribution
- Headquarters: Hangzhou, China
- Website: http://www.best-inc.com
- Total disclosed funding: $50M
- Latest round: Series D (Dec 31, 2012)
- Investors on record: 7

## About

BEST Inc. provides integrated logistics and supply chain solutions that enhance operational efficiency for businesses across various sectors, focusing on freight forwarding and last-mile delivery services.Founded in 2007 in Hangzhou, China, BEST Inc. specializes in logistics and supply chain management. The company was co-founded by David Dotcom and Johnny Chou and has undergone various operational pivots since its inception. In September 2017, BEST Logistics Technology (China) Limited conducted an IPO, raising USD 450 mn by selling 45 million shares at USD 10 each on the NYSE. The company has completed a total of 10 deals up to this date.BEST Inc. specializes in providing comprehensive logistics and supply chain solutions tailored to meet the needs of businesses across various sectors. Their core offerings include integrated supply chain services, freight forwarding, and last-mile delivery, aimed at enhancing operational efficiency and streamlining logistics processes. The company addresses challenges related to shipping delays, inventory management, and fulfillment through technology-driven solutions that optimize routes and reduce costs. BEST Inc. caters to a diverse clientele, including e-commerce platforms, retail brands, and manufacturers in North America, Southeast Asia, and Europe, ensuring timely delivery and exceptional service for end users.In the most recent fiscal year of 2022, BEST Inc. reported revenue of USD 1,122.79 mn with an EBITDA of USD -179.39 mn. The company's revenue model is structured around partnerships and direct service agreements, focusing on B2B logistics solutions that involve freight forwarding services and warehousing contracts. Their pricing is determined based on the volume of goods handled and the complexity of the logistics required, which aids in maintaining a steady revenue stream while fostering long-term relationships with clients.BEST Inc. aims to leverage the capital raised from its IPO on September 19, 2017, to support its future growth initiatives. The company is focused on expanding its footprint in key markets, particularly in North America and Southeast Asia, by launching new service offerings designed to address evolving logistics challenges. Additionally, BEST Inc. is working on designing new products that enhance its technological capabilities in logistics management, with the goal of rolling out these innovations in the coming years.

## Funding rounds

- Series D, Dec 31, 2012 — Walden Catalyst, China Renaissance Capital Investment
- Series C, Feb 1, 2011, $20M — Walden Catalyst, Hina Group, Alibaba Group
- Series B, Apr 22, 2010, $15M — Walden Catalyst, CDH Investments
- Series B, Jul 25, 2009 — IDG Capital
- Series A, Jun 1, 2008, $15M — Alibaba Group, HCM Capital

## Investors

- Alibaba Group — Series A, Series C
- HCM Capital (https://capitalatlas.ai/funds/hcm-capital) — Series A
- IDG Capital (https://capitalatlas.ai/funds/idg-capital) — Series B
- Walden Catalyst (https://capitalatlas.ai/funds/walden-catalyst) — Series B, Series C, Series D
- CDH Investments (https://capitalatlas.ai/funds/cdh-investments) — Series B
- Hina Group (https://capitalatlas.ai/funds/hina-group) — Series C
- China Renaissance Capital Investment (https://capitalatlas.ai/funds/china-renaissance-capital-investment) — Series D