Paris, 11th February 2020 – Shippeo, the leading supply chain visibility provider in Europe, announces the closing of a €20 million Series B round co-led by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures and Partech.
Shippeo provides predictive and real-time visibility into goods delivery. The AI-based platform aggregates data from hundreds of sources in real-time to calculate estimated time of delivery arrival with 98% accuracy. By allowing customers to take control of their supply chains, Shippeo offers great potential for industrials to consolidate customer loyalty, manage their carbon footprint and boost revenue.
Since its creation in 2014, Shippeo has successfully scaled its operations and is now servicing more than 50 large customers across 40 countries, such as Heineken, Leroy Merlin, Carrefour and Schneider Electric. The team has grown tenfold and Shippeo now employs 80 people in seven different European offices. Over the last year, Shippeo has increased its turnover by 300%, positioning itself as one of the fastest-growing start-ups in Europe.
The Series B round of €20 million in new equity is co-led by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures. Existing shareholder, Partech, also took part in this investment, reaffirming its trust in Shippeo and long-term support to the management team.
Pierre Khoury – CEO and Lucien Besse – COO of Shippeo, said:
“Welcoming top-tier investors is a great source of pride for Shippeo. Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6 billion market. By revolutionizing supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.”
Remy de Tonnac, Partner at ETF Partners, said: “Shippeo created an outstanding platform to help Shippers embrace the efficiency of « Industry 4.0 » with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility into its environmental impact and thus will drive significant improvements for the benefit of all stakeholders.”
Bo Ilsoe, Partner of NGP Capital, said: “Working with great entrepreneurs is our core mission at NGP Capital and we are honoured to join Pierre, Lucien and the talented Shippeo team in their continued journey. The supply chain industry is ripe for increased digitization and we look forward to adding value to the company through our global model and network.”
Shippeo will use the Series B funding:
- To further strengthen its market-leading position in Europe by multiplying the customer base by five, whilst maintaining very high customer satisfaction
- To expand the team by 150 new recruits in data science, IT and sales and operations
- To triple its R&D investment in AI and automatization, to achieve increased operational excellence and increased customer visibility into the supply chain
The supply chain industry remains fragmented and underserved from a technology standpoint. With more than 600,000 road freight companies in Europe alone, digitization offers tremendous opportunity for industry disruption and Shippeo is leading the way in decreasing fragmentation and increasing real-time visibility into freight delivery.