French supply chain visibility platform Shippeo has announced a $32 million investment from Battery Ventures and its existing investors (NGP Capital, ETF Partners, Partech and Bpifrance Digital Venture).
The Covid-19 crisis has highlighted the need for supply-chain visibility, with major shippers across industries needing enhanced transparency more than ever before.
The market for providing such solutions is most certainly competitive, with the likes of project44, FourKites, Specright and Anvyl among those competing with Shippeo in this space.
Despite the unprecedented global economic impact of Covid-19, Shippeo has more than doubled its subscription revenues year on year, while increasing its customer base in 2020 with industrial brands and fourth-party logistics providers such as Kuehne+Nagel, Total, Hager or Krone.
Last October, Shippeo acquired the French company oPhone, bringing customers in the retail and manufacturing sectors into its community. In addition, Shippeo’s total workforce has more than doubled in the last 12 months to 160 employees, of which 45% work in R&D.
The core of Shippeo’s software-as-a-service (SaaS) platform is an API that integrates with hundreds of transportation management systems as well as telematics products, ERP and electronic logging device technology, among other data sources, to provide real-time location data, delivery tracking and a proprietary algorithm to calculate a shipment’s Estimated Time of Arrival (ETA).
Photo credit @ Shippeo