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.