Shippeo, a Paris, France-based real-time transportation visibility (RTTV) company, raised $32m in funding.
Backers included Battery Ventures, and existing investors NGP Capital, ETF Partners, Partech and Bpifrance Digital Venture.
The company will use the funds to strengthen its position and continue delivering on product innovation.
Led by Pierre Khoury – CEO, and Lucien Besse – COO, Shippeo provides a software-as-a-service (SaaS) platform, 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). Powered by Shippeo, companies can identify every pain point and inefficiency end-to-end across their global logistics operations and take action to optimize their processes. The solution empowers customers to control their supply chain efficiency, offering companies the ability to consolidate customer loyalty, manage their carbon footprint and boost revenue.
Despite the 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 major industrial brands and fourth-party logistics providers such as Kuehne+Nagel, Total, Hager or Krone. Last October, the company acquired oPhone, bringing major customers in the retail and manufacturing sectors into its community. Finally, Shippeo’s total workforce has more than doubled in the last 12 months, now totaling 160 employees, of which 45% work in R&D.