– FRANCE, Paris – Shippeo, the European leader in real-time transportation visibility, today announced a $32 million investment round co-led by Battery Ventures and existing investors NGP Capital, ETF Partners, Partech, and Bpifrance Digital Venture.
Paul Morrissey, a Battery partner, added: “We are thrilled to partner with Shippeo to help the company grow. We have been tracking the company for several years and have always been impressed with its vision and team. Shippeo has built a leading, real-time visibility solution in Europe, serving a market that is one of the fastest-growing sub-sectors of the supply-chain software market. We believe the adoption of visibility software will only be accelerated in the wake of Covid-19. We have been impressed by how Shippeo’s management has executed to date, and we look forward to helping the team continue their success.”
Shippeo will use the investment to strengthen its market-leading position and continue delivering on product innovation.
CEO Pierre Khoury and COO Lucien Besse said: “We are pleased to welcome Battery onboard and we are honored by its trust and confidence. The firm, founded in 1983, has a long track record of investing in prominent SaaS businesses in the U.S. and Europe and partnering with management teams to help them grow their businesses smartly. With Battery’s industrial reach and strong experience in the technology sector, Shippeo will carry out its main objectives: strengthening its leading position in Europe and boosting its edge over its competitors.”
Shippeo, which had previously raised $39 million since its founding in 2014, secured the new, $32 million investment from Battery Ventures and existing investors Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture to strengthen its market-leading position in Europe and continue delivering on product innovation.
Critically, Shippeo empowers customers to seamlessly control their supply chain efficiency, offering companies the ability to consolidate customer loyalty, manage their carbon footprint, and boost revenue.
About Shippeo
Shippeo, the European leader in real-time transportation visibility, helps major shippers and logistics service providers leverage transportation to deliver exceptional customer service and achieve operational excellence. Their Multimodal Visibility Network connects FTL, LTL, parcel, and container transport and integrates 700+ TMS, telematics, and ELD systems using a unique API. The Shippeo platform provides instant access to real-time delivery tracking, automates customer processes, and offers unmatched ETA accuracy thanks to proprietary and industry-leading algorithm developed in-house. Global brands like Carrefour, Schneider Electric, Faurecia, Saint-Gobain, and Eckes Granini trust Shippeo to track more than 10 million shipments per year across 70 countries.
For more information: https://www.shippeo.com/
About Battery
Battery partners with exceptional founders and management teams to develop category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT, and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and covers technology markets from six strategic locations including Boston; Menlo Park and San Francisco, Calif.; Herzliya, Israel; London; and New York.
For more information: http://www.battery.com/
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