Freight tech startup sennder lands $160M for European expansion
German sennder has raised a $160 million Series D funding from existing investors Accel, Lakestar, HV Capital, Project A and Scania. This round pushed the company’s valuation to over $1 billion.
Founded in 2015 by CEO David Nothacker, Julius Köhler and Nicolaus Schefenacker, sennder is a digital road freight forwarder, linking large commercial shippers with small and mid-sized freight carriers. The company focuses on digitalization and automation of all road logistics processes. By providing mobile apps to drivers, fleet management tools to carrier managers and logistics management solutions to shippers, sennder optimizes route efficiency and reduces cost for all stakeholders.
“The COVID-19 pandemic has demonstrated the importance of a digitalized logistics industry. Throughout 2020, we helped our carriers increase their profitability by enhancing operating margins by up to 80% during a challenging time. sennder is uniquely positioned to drive industry digitalization, benefiting shippers and carriers alike,” Nothacker commented.
As the company said, $100 million will be invested to digitalize European trucking by expanding its technology offering, as well as in the technology team expanding. Additional funding will be used to drive expansion into new European markets, taking into account its success with Poste Italiane.