France-based Shippeo has announced a record-breaking fundraising sum of $40 million for its real-time supply chain transportation visibility platform.
Current investments to date now amount to over $110 million, as the company ramps up global expansion of its platform.
Investors include previous partners Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture and SAP.io, alongside new strategic investors Hong Kong-based LFX Venture Partners and Japan-based Yamaha Motor Ventures.
Shippeo’s tool aims to help shippers and carriers run more collaborative, automated, sustainable, profitable, and customer-centric supply chains, leveraging global partner networks, real-time data and AI to enable greater ecosystem collaboration.
“Given the challenging economic climate we find ourselves in, the fact that each of our existing investors took the opportunity to reinvest is a strong vote of confidence in us, thanks to the considerable growth rates and enviable customer satisfaction levels we’ve managed to maintain,” said Shippeo CEO Pierre Khoury.
“Benefitting from the addition of some notable new investors, this fundraising round is the largest ever for a supply chain visibility software in Europe, helping us bolster our sound financial position for many years to come, and accelerating our ongoing North American and APAC expansion, while giving customers and partners confidence in the longevity potential of our partnerships.”
According to the company, in the last 12 months its valuation has grown 70 per cent, thanks in part to a lean approach to cash burn, one that they credit to helping to preserve a secure financial position and a clear path to profitability.
In parallel, the company has kept churn rates below 4 per cent.
Kicking off with an on-site summit on 31 May – 1 June 2022, the event included insights from sector representatives such as Port of Barcelona, Maersk, Hutchison BEST, and Shippeo on where innovation can make its greatest impact in maritime, port, and inland logistics.