Shippeo Secures $30 Million in Strategic Funding to Accelerate Global Expansion
Accelerating Growth in North America and Asia-Pacific
Paris-based Shippeo, a leading visibility provider, has announced a significant milestone in its journey, securing $30 million in strategic funding led by Toyota’s growth fund, Woven Capital. This investment will fuel the company’s expansion in North America and Asia-Pacific markets.
Meeting the Growing Demand for Supply Chain Visibility
The level of risk in the supply chain is increasing dramatically, and companies need to manage it more efficiently and proactively. Shippeo’s co-founder, Lucien Besse, emphasized that customers are seeking alternative, credible solutions, driving growth opportunities for the company.
A Total of $140 Million Raised Since Founding
Shippeo has raised a total of $140 million since its founding in 2014. The company’s valuation has grown significantly compared to previous rounds, with Pitchbook estimating its last funding round valuation at $154 million.
Real-Time Transportation Visibility Across 150 Countries
Shippeo provides real-time transportation visibility, tracking over 90 million shipments annually across 150 countries. The platform’s capabilities extend across all transport modes, offering precise tracking and predictive ETAs by integrating with more than 228,000 carriers and 1,100 systems.
Strong Growth in North America and Asia-Pacific
Shippeo has seen significant growth in North America, with a 40% increase in customers, a 92% rise in shipments tracked, and 210% year-over-year revenue growth in the region. In Asia-Pacific, the company has seen a 53% increase in customer base and 64% growth in shipments tracked.
Differentiating Through Data Quality and Delivery Excellence
Shippeo’s senior vice president of International Growth, Chris Mazza, highlighted the importance of developing a deep understanding of the customer’s operational process and relationships with their carrier partners to achieve high-quality data. This approach has enabled the company to differentiate itself in a crowded market.
Fostering Strong Partnerships and Delivering High-Quality Data
Despite facing competition from established players, Shippeo’s officials believe that its ability to deliver high-quality data and foster strong partnerships sets it apart. The company plans to invest in sales and marketing efforts to acquire market share while continuing to enhance its platform’s capabilities.
Roadmap for Advanced Features and Sustainability
Shippeo’s roadmap includes advanced features for risk management and sustainability, along with ongoing improvements in data quality and connectivity. With its European expertise and adaptability to regional market demands, Shippeo aims to carve out a significant share of the North American and APAC markets.
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