The supply chain specialist Shippeo announced earlier this week that it had raised 40 million euros to accelerate its international development.
In 2014, the French company developed a platform to help carriers and contractors digitize their process.
The historical investors of Shippeo, Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture and SAP.io, all participated in this funding round, accompanied by new investors, including LFX Venture Partners, and Yamaha Motor Ventures.
To limit and prevent disruptions in supply chains, Shippeo wants to “strengthen support for leading shippers and logistics service providers towards building more collaborative, automated, sustainable, profitable and customer-centric supply chains”. says a statement.
A business that is going global
Shippeo’s subscription revenues have increased by 80% in one year, assures the company. Its main clients include renowned companies such as Coca-Cola, Renault, Philip Morris International and Jaguar Land Rover. The company says it anticipates “near profitability”, driven by a valuation of the company up 70% over the past 12 months.
Shippeo processes more than 10 million transport orders per year, which pass through its platform. From its eight offices based in Europe, the company deals mainly with European companies, for global supply chains.
After a launch at the beginning of the year on the North American market, the real-time transport visibility platform wishes to continue its international expansion with these funds raised.
New product developments
At the same time, Shippeo announced several product developments, with new functionalities, such as the improvement of the maritime flow visibility solution. Shippeo thus offers a single platform for end-to-end shipment tracking and for all modes of transport.
Shippeo also launched a new dashboard for monitoring CO2 emissions from transport and distribution activities, for shippers and carriers. Finally, for its rail visibility solutions, Shippeo announces that it has recently entered into a partnership with Everysens, a supplier of rail and intermodal transport management systems.