Shippeo, a Paris, France-based real-time multimodal supply chain transportation visibility, announced that it raised $40 million, boosting investment to over $110 million as the company ramps up the global expansion of its best-in-category visibility platform.
All existing investors took part in the new round, including 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. Their investment will help to ramp up operations across Asia-Pacific.
The investments will support Shippeo's mission 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," explains 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."
Shippeo's company valuation has grown 70%, with a lean approach to cash burn helping to preserve a secure financial position and a clear path to profitability. Over the past three years, Shippeo has expanded from a regional leader to a global leader in real-time shipment visibility, growing subscription revenues by 80% year on year. In parallel, the company has kept churn rates below 4%.
Its carrier network also grew to over 150,000 across the globe, with active shipment tracking in 92 countries, across all continents, including complex regions for tracking such as the Middle East, Africa, and the Asia Pacific.
The company's ambition is to be the leading supply chain operating system, enabling fully automated and sustainable supply chains worldwide and offering the highest data quality and ETA accuracy available on the market.
Company: Shippeo SAS
Raised: $40.0M
Round: Unknown
Funding Month: October 2022
Lead Investors: Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture, and SAP.io
Additional Investors: LFX Venture Partners and Japan-based Yamaha Motor Ventures
Company Website: https://www.shippeo.com/
Software Category: real-time Multimodal Supply Chain Transportation Visibility
About the Company: Shippeo is a global leader in real-time multimodal transportation visibility, helping major shippers and logistics service providers deliver exceptional customer service and achieve operational excellence. Its multimodal visibility network tracks shipments across all modes of transport and integrates with more than 875 TMS, telematics and ELD systems. Its platform provides instant access to real-time shipment tracking through an intuitive user experience. Shippeo has 150 global enterprise-level customers, including Coca-Cola HBC, Renault, AkzoNobel, Philip Morris International, and Jaguar Land Rover. The company has been recognized as a global industry leader in the G2 Fall 2022 Grid Report for Supply Chain Visibility for the fourth consecutive time, based on a high customer satisfaction score and large market presence. Shippeo's mission is to inspire the world's shippers and carriers to run more collaborative, automated, sustainable, profitable, and customer-centric supply chains with highly accurate, real-time operational visibility and perfect workflow orchestration.
Source: https://www.shippeo.com/press-releases/shippeo-announces-record-40m-funding-round-to-accelerate-global-supply-chain-resilience