Xeneta, an Oslo, Norway-based leading ocean and air freight rate benchmarking and market analytics platform, announced an $80 million investment at a $265 million valuation.
The round was led by funds advised by Apax Digital, the growth equity arm of Apax, a leading global private equity advisory firm, with participation from NY-based Lugard Road Capital.
With this investment, Xeneta will accelerate investments in platform development and continue scaling its global commercial teams. This will support expansion into new markets as companies seek to develop resilient supply chains to counter global trade volatility.
“While global trade tries to get back on its feet after a couple of years of uncertainty, it’s clear that the overall logistics industry requires a re-think of how freight is bought and sold. This new funding will help us accelerate development of our platform and add even more datasets to enrich our expert industry analyses to further drive transparency in the market,” said Xeneta CEO and Co-founder Patrik Berglund. “We are proud to have a renowned global fund like Apax Digital and its expert operational team to work alongside us as we enter our next stage of growth.”
Mark Beith, Partner at Apax Digital, joins the company’s Board of Directors.
Company: Xeneta AS
Raised: $80.0M
Round: Unknown
Funding Month: September 2022
Lead Investors: Apax Digital
Additional Investors: Lugard Road Capital
Company Website: https://www.xeneta.com/
Software Category: Ocean and air freight rate benchmarking and market analytics platform
About the Company: Xeneta is the leading ocean and air freight rate benchmarking and market analytics platform, transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping and air cargo stakeholders the data they need to understand current and historical market behavior, reporting live on market average and low/high movements for both short- and long-term contracts. Xeneta’s data comprises more than 300 million contracted container and air freight rates and covers more than 160,000 global trade routes. Xeneta’s customer portfolio includes, amongst others: Electrolux, Unilever, Nestle, Zebra Technologies, Thyssenkrupp, Volvo, General Mills, Procter & Gamble, and John Deere. Xeneta is a privately held company with headquarters in Oslo, Norway, with regional offices in New Jersey, USA, Hamburg, Germany, and Copenhagen, Denmark.
Source: https://www.xeneta.com/news/xeneta-raises-80-million-led-by-apax-digital