Shippeo Announces Record $40m Funding Round to Accelerate Global Supply Chain Resilience

Rhea-AI Summary

Shippeo, a leader in real-time multimodal supply chain visibility, has raised a record-breaking $40 million in funding, increasing total investments to over $110 million. All existing investors, including Battery Ventures and SAP.io, participated, along with new investors from Hong Kong and Japan. The capital will accelerate Shippeo’s global expansion, especially in North America and Asia-Pacific, and enhance its visibility platform. The company's valuation has grown 70% in the past year, and subscription revenues are up 80% year-on-year, solidifying its position in the market.

Positive

• Raised a record $40 million in funding, increasing total investments to over $110 million.
• Company valuation increased 70% in the last year.
• Subscription revenues up 80% year-on-year.
• Maintained a churn rate below 4%.
• Expanded global carrier network to over 150,000.
• Tripled team size to over 220 employees.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Shippeo, a global leader in real-time multimodal supply chain transportation visibility, today announced a record-breaking fundraising round of $40 million, boosting investment to date to over $110 million, as the company ramps up 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, whose 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. Regarded by many companies as the heart of their operations, supply chains can now benefit from highly accurate, real-time operational visibility and perfect workflow orchestration, which have become crucial for overcoming the unprecedented challenges, uncertainty, and financial fallout from disruption that organizations continue to face.

“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.”

Impressive growth trajectory

In the last 12 months, Shippeo’s company valuation has grown 70%, with a lean approach to cash burn helping to preserve a secure financial position and clear path to profitability. Over the past 3 years, Shippeo has expanded from a regional leader to a global leader in real-time shipment visibility, growing subscription revenues 80% year on year, and adding 150 global enterprise-level customers to its books, including Coca-Cola HBC, Renault, AkzoNobel, Philip Morris International, and Jaguar Land Rover. In parallel, the company has kept churn rates below 4%.

Having launched in the North American market earlier this year, Shippeo’s expansion is maintaining momentum through a recently announced partnership with e2open (NYSE: ETWO), the connected supply chain SaaS platform with the largest multi-enterprise network. Shippeo’s 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 Asia Pacific.

Supporting growth was a tripling of team size to over 220 people. The company has welcomed several world-class executives, including London-based Anand Medepalli as Chief Product Officer, previously at BlueYonder and ServiceNow, Paris-based Philippe van Hove as Chief Revenue Officer, previously at Zuora and Lacework, and San Francisco-based Chris Mazza as SVP of International Growth, previously at ClearMetal.

Most recommended provider

Shippeo has a 94% recommendation rate* as of 20 October 2022, according to customer reviews on Gartner® Peer Insights™. Shippeo was also recently positioned furthest and highest on Ability to Execute and Completeness of Vision in the Challengers quadrant of the 2022 Gartner® Magic Quadrant™ for Real-time Transportation Visibility Platforms.

The company has also 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. In the same report, Shippeo was voted number one easiest platform to use, with 98% of users rating the platform a four or five out of five stars.

Best-in-category data quality, capabilities, and user experience

Shippeo's ambition is to be the leading supply chain operating system, enabling fully automated and sustainable supply chains across the world, offering the highest data quality and ETA accuracy available on the market. Earlier this year, Shippeo announced several major product developments offering new features and capabilities for customers. These included an enhanced world-class ocean tracking solution, with a breakthrough user experience and powerful monitoring capabilities, as part of the first truly singular platform available on the market for tracking end-to-end shipments across all transport modes. Shippeo also debuted a new carbon visibility dashboard to simplify CO₂ emissions monitoring from transport and distribution activities for both shippers and carriers. In parallel, shipment tracking ETA accuracy was boosted by a giant 32% and rail visibility capabilities enhanced via a new partnership with leading rail and intermodal transport management system provider Everysens.

Michael Brown, General Partner at Battery Ventures, is delighted with Shippeo’s prospects. “We see a bright future ahead for Shippeo. The fact that the company continues to attract and deliver for such high-caliber enterprise-level customers is a testament to their team’s focus on customer centricity from product development, through to solution consulting, deployment, and support. What’s more remarkable is that they’ve managed to achieve a market leadership position with comparatively lower funding and better cash efficiency versus some of their direct competitors, due to strong leadership and the highly capable team they’ve attracted.”

For more information, visit shippeo.com

* Gartner Disclaimer: As of October 20th, 2022 based on 145 reviews in the Real-Time Transportation Visibility Platforms market.

Gartner, Magic Quadrant for Real-Time Transportation Visibility Platforms, 24 May 2022, Carly West

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER and Magic Quadrant are registered trademarks and service marks and PEER INSIGHTS is a trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

About Shippeo

Shippeo is a global leader in real-time multimodal transportation visibility, helping major shippers and logistics service providers operate more collaborative, automated, sustainable, profitable, and customer-centric supply chains. This is made possible with highly accurate, real-time operational visibility and perfect workflow orchestration. Their Multimodal Visibility Network integrates with more than 875 TMS, telematics and ELD systems, enabling Shippeo’s platform to provide instant access to real-time shipment tracking across all transport modes, in a single portal, through an intuitive user experience. A proprietary and industry-leading machine learning algorithm offers unmatched ETA accuracy, allowing supply chain companies to quickly anticipate problems, proactively alert customers, efficiently manage exceptions with collaborative workflows, and accurately measure CO2 and GHG emissions from supply chain transport. Hundreds of customers, including global brands like Coca-Cola HBC, Carrefour, Renault Group, Schneider Electric, Total, Faurecia, Saint-Gobain and Eckes Granini, trust Shippeo to track more than 28 million shipments per year across 92 countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221021005432/en/

European press

Andrea Krug, Krug Communications Ltd, tel. +44 (0)7740 245 867, email: andrea@krugcomms.com

North American press

Carol Lerner, CKL Communications, 201-602-7572, ckl.communications@gmail.com

Shippeo press

Daria Sainani, Head of Growth Marketing, tel. +33 6 7620 3772, email: daria.sainani@shippeo.com

Source: Shippeo

FAQ

What is the significance of Shippeo's recent funding announcement?

Shippeo announced a record $40 million funding round, which boosts its total investment to over $110 million, facilitating global expansion.

What impact did Shippeo's funding have on its market position?

The funding will support Shippeo's growth, particularly in North America and Asia-Pacific, and enhance its supply chain visibility platform.

How has Shippeo's valuation changed recently?

Shippeo's valuation grew 70% over the past year, reflecting strong growth and investor confidence.

What are Shippeo's key financial metrics reported in the PR?

The company reported an 80% increase in subscription revenues and maintained a churn rate below 4%.

Who are the new investors in Shippeo's recent funding round?

The funding round included existing investors such as Battery Ventures and new investors from Hong Kong and Japan.