Paris-based visibility provider Shippeo announced Wednesday it has secured $30 million in strategic funding led by Toyota’s growth fund Woven Capital as the company aims to accelerate its expansion in North American and Asia-Pacific (APAC) markets. The round also included participation from existing investors Battery Ventures, Partech, NGP Capital, Bpifrance Digital Venture, LFX Venture Partners, Shift4Good and Yamaha Motor Ventures.
“Across the board, the level of risk on the supply chain of our customers is increasing dramatically, and they need to manage that more efficiently and in a more proactive way. … There is also a competitive situation in the North American market that is playing in our favor because our customers are now asking for alternative, credible solutions, and that is driving growth opportunities for us in that market,” co-founder Lucien Besse told FreightWaves in an interview.
The company last raised funds from its existing investors in 2023 to fuel growth in these regions as well. Shippeo has raised a total of $140 million since its founding in 2014, according to the company.
While the company could not confirm its valuations post-investment, a company representative clarified to FreightWaves that “it has grown significantly compared to our previous rounds.” Investment analyst site Pitchbook puts its last funding round valuation at $154 million.
Founded in France, Shippeo provides real-time transportation visibility, tracking over 90 million shipments annually across 150 countries. The platform’s capabilities extend across all transport modes, offering precise tracking and predictive ETAs by integrating with more than 228,000 carriers and 1,100 systems, including transportation management systems and enterprise resource planning tools, according to the company.
Shippeo officials told FreightWaves that year over year, growth in North America has included a 40% increase in customers, a 92% rise in shipments tracked and 210% year-over-year revenue growth in the region. While doing so, it has grabbed major brands including Amazon and Yamaha Motor North America through technology transparency and leveraging its strategic partnerships with companies like e2open, SAP and Google.
During a conversation with FreightWaves, Besse and Chris Mazza, senior vice president of International Growth, explained that there are key differences between the North American and European markets when it comes to the technology landscape for supply chain visibility solutions.
Mazza called the North American market more “sophisticated” when it comes to real-time transportation visibility, transportation management systems and the use of technology in logistics as a whole. Customers in the U.S. are already familiar with visibility solutions and know what to expect from them and have experiences from which to make comparisons, good or bad, with other providers. This allows Shippeo to focus more on differentiating through data quality and delivery excellence.
