Paris-based Shippeo, a SaaS platform that provides real-time transportation visibility, has raised $ 32M (approx €26.3M) in a fresh round of funding. The round is co-led by Battery Ventures, (a technology-focused investment firm) and existing investors, including NGP Capital, ETF Partners, Partech, and Bpifrance Digital Venture.
Use of the funds
Shippeo will use the current investment to strengthen its position in the market and continue to deliver product innovation.
Speaking on the development, founders Pierre Khoury and Lucien Besse of Shippeo, said, “Battery Ventures, founded in 1983, has a long track record of investing in prominent SaaS businesses in the US and Europe and partnering with management teams to help them grow their businesses smartly. With Battery’s industrial reach and strong experience in the technology sector, Shippeo will carry out its main objectives: strengthening its leading position in Europe and boosting its edge over its competitors.”
The company was founded in 2014 by Pierre Khoury, Lucien Besse, David Barre, Jean-Bastien Dussart, Brice Hua, and Thibaut Morlot.
Shippeo aims to build a data platform for the freight industry, by leveraging its growing network, real-time data, and AI to help supply chains deliver exceptional customer service and achieve operational excellence.
The company’s software-as-a-service (SaaS) platform offers an API that integrates transportation management systems as well as telematics products, ERP, and electronic logging device technology, among other data sources. This provides real-time location data, delivery tracking, and a proprietary algorithm to calculate a shipment’s Estimated Time of Arrival (ETA).
Shippeo claims to have tracked more than 140,000 deliveries per month throughout Europe for companies such as Leroy Merlin, Saint-Gobain, and Faurecia.
Solving the pain-point of the freight industry
Due to the Covid-19 scenario, the need for supply-chain visibility has been increasing more than ever. With many countries in lockdown and with unpredictable border closures, companies with advanced visibility solutions have managed to reduce the transport delays and operational inefficiencies.
Beyond tracking shipments, visibility platforms now give supply chains the data-driven transparency to meet various customer demands in uncertain and challenging market conditions.
And supposedly, this is where Shippeo stepped in and claims to have more than doubled its subscription revenues year on year.
Companies using Shippeo’s platform can now identify every pain point and inefficiency end-to-end across their global logistics operations and take action to optimise their processes. This results in lower transportation costs, increased customer satisfaction, and more sustainable operations.
Just last October, Shippeo acquired the French company oPhone, bringing major customers in the retail and manufacturing sectors in its community. And now, the company’s total workforce has more than doubled, totaling 160 employees, of which 45% work in R&D.
In February 2020, Shippeo raised €20M in its Series B round led by NGP Capital and ETF Partners, with participation from Bpifrance Digital Ventures and Partech.
Prior to that, the company has raised €10M (2017) in Series A round from Otium Capital and Partech. In 2016, it raised €2M in its Seed round from Otium Capital, and in 2015 it raised its pre-Seed round funding of €90K.
Hello all! I will try my best to keep this post short and to the point.
I'm asking for advice on ways to communicate stock/amount of certain items between different departments within a company as well as just having a clear and simple overview of our supplies. Maybe there is an app or website that could be used specifically for this?
This holiday season has been the busiest our company has ever had. As this is the first time we've been dealing with such a large number of orders, mistakes were made in our stock count which meant a small percentage of orders did not get assembled in time. This can happen for a number of different reasons. For example, we need to assemble a 100 sets, they each include a battery charger, unfortunately 2 of the chargers we got from our supplier don't work. Because we don't really have any system in place yet, these 2 broken chargers were just put aside, production continued and it wasn't noted into any specific document. Another thing that can happen, a costumer notifies us that their order arrived without a connection cable. The department that deals with returns takes a connection cable from production, again this is not written down anywhere, so now production is missing one cable for a new order.
We were very proud and happy to see that the number of such mistakes was quite low but are hoping to minimise, if not completely eliminate them in the future.
I really appreciate any suggestions on document sharing apps or other creative ways to handle this. We would like all our employees to have access to such information and also be able to change it anytime and anywhere.
Tive, a Boston-based startup, is building a hardware and software platform to help track the conditions of a shipment like say food or medicine to make sure it is stored under the proper conditions as it moves from farm or factory to market. Today, the company announced a $ 12 million Series A.
RRE Ventures led the round with help from new investor Two Sigma Ventures and existing investors NextView Ventures, Hyperplane Ventures, One Way Ventures, Fathom Ventures and other unnamed individuals. The company has now raised close to $ 17 million, according to Crunchbase data.
“Tive helps companies all over the world track their shipments in a very specific way,” company co-founder and CEO Krenar Komoni told me. Using a tracking device the company created, customers can press a button, place the tracker on a palette or in a container, and it begins transmitting shipment data like temperature, shock, light exposure, humidity and location data in real time to ensure that the shipment is moving safely to market under proper conditions.
He said that they are the first company to create single-use 5G trackers, meaning the shipping company doesn’t have to worry about managing, maintaining, recharging or returning them (although they encourage that by giving a discount for future orders on returned items).
The approach seems to be working. Komoni reports that revenue has grown 570% in 2020 as the product-market fit has become more acute with digitization hitting the supply chain in a big way. He says that in particular customers and investors like the company’s full-stack approach.
“What’s interesting […] and why we are resonating with customers and also why investors like it, is because we’re providing the full stack, meaning the hardware, the software, the platform and the APIs to major transportation management systems,” Komoni explained.
The company has 22 employees and expects to double that number in 2021. As he grows the company, Komoni says that as an immigrant founder, he’s particularly sensitive to diversity and inclusion.
“I’m an immigrant myself. I grew up in Kosovo, came to the US when I was 17 years old, went to high school here in Vermont. I’m a US citizen, but part of who I am is being open to different cultures and different nationalities. It’s just part of my nature,” he says.
The company was founded in 2015 and its facilities are in Boston. It has continued shipping devices throughout the pandemic, and that has meant figuring out how to operate in a safe way with some employees in the building. He expects the company will have more employees operating out of the office as we move past the pandemic. He also has an engineering operation in Kosovo.
I'm looking for some inspiration to set my KPIs, so I'd like to know what KPIs are popular, and also ways of keeping track of them. Manually checking seems frustrating, and also it would be nice to have some historical data to compare to, but I want to have as less administration as possible.
Also, how often do you check your KPIs?