Shippeo secures $30 million to expand in North America and elsewhere

Shippeo has raised $30 million in a strategic funding round led by Woven Capital, Toyota’s growth fund.

Existing investors, including Battery Ventures, Partech, NGP Capital, Bpifrance Digital Venture, LFX Venture Partners, Shift4Good, and Yamaha Motor Ventures, also participated. This brings Shippeo’s total funding to over $140 million. Shippeo is a provider of real-time multimodal transportation visibility.

The funding will support the company’s expansion across North America and the Asia-Pacific (APAC) region, as well as enhancements to its Real-Time Transportation Visibility Platform. The platform helps companies track shipments across all transport modes and reduce logistics-related carbon emissions by providing data-driven insights into carrier and mode selection.

New Shippeo funding

Pierre Khoury, CEO of Shippeo, said the funding strengthens the company’s financial position. It also supports its focus on delivering long-term value to customers and partners.

Shippeo’s platform is used by global brands in 150 countries, tracking over 90 million shipments annually. North America has seen a 40% increase in customers, a 92% rise in shipments tracked, and 210% year-over-year revenue growth. Notable clients include Amazon, Lassonde Industries, and Yamaha Motor North America.

Shippeo is a platform that provides real-time visibility into transportation. It offers a variety of features, including:

• Shipment tracking. Shippeo’s platform provides real-time tracking of shipments across all modes of transportation.
• ETA accuracy. Shippeo’s algorithms provide accurate estimated time of arrivals (ETAs).
• Process automation. Shippeo’s Transportation Process Automation (TPA) feature integrates visibility with action. It offers collaborative workflows, automation, and prescriptive analytics.
• Data quality. Shippeo’s platform provides data quality and insights.
• AI/ML-generated insights and predictions. Shippeo’s platform uses AI and machine learning to generate insights and predictions.

In the Asia-Pacific (APAC) region, Shippeo’s customer base has grown 53% year over year, with a 64% increase in tracked shipments. Recent developments include tracking capabilities in Mainland China, enabling improved solutions in the region. Customers in APAC include Arlanxeo, Evonik, Fujifilm, and Philip Morris International.

Prashant Bothra, principal at Woven Capital, emphasized the importance of real-time transport visibility in addressing global supply chain complexity, citing Shippeo’s ability to streamline operations and improve efficiency.

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