Paris-based startup Shippeo raises $32 million
According to the company`s press release, Shippeo, the European leader in real-time transportation visibility, has raised a $32 million investment. The round was led by Battery Ventures with participation from existing investors (NGP Capital, ETF Partners, Partech, and Bpifrance Digital Venture).
Founded in 2014 by Brice Hua, David Barre, Jean-Bastien Dussart, Lucien Besse, Pierre Khoury, and Thibaut Morlot, Shippeo gives market-leading companies instant access to predictive and real-time information of every delivery. Its machine-learning algorithm accurately calculates arrival times allowing companies to quickly anticipate problems, proactively alert customers, and efficiently manage exceptions.
Shippeo will use the investment to strengthen its market-leading position and continue delivering on product innovation. Despite the impact of Covid-19, Shippeo has more than doubled its subscription revenues year on year, while successfully increasing its customer base in 2020 with major industrial brands and logistics providers.