The funding puts the company's valuation at $1.1B. Here are the top-line bullets you need to know.
Sennder, a digital freight forwarder, has raised $80M in an extended Series D with participation from Baillie Gifford & Co. among other undisclosed investors.
HOW’S THE COMPANY PERFORMING?
- Berlin-based Sennder is a digital freight forwarder that connects several small and medium-sized trucking companies to shippers.
- Its sennOS platform consists of a network of 12,500 trucks and offers its services to 10 German DAX 30 and 11 Euro Stoxx 50 shippers.
- The company has over 840 employees across offices in Italy, Spain, Poland, and the Netherlands, among others.
- Its acquisitions include Uber Freight Europe, Cars&Cargo, Everoad, and it entered a strategic partnership with Zeitfracht in February.
- It also runs a joint venture with Poste Italiane, Italy’s postal service.
WHY DOES THE MARKET MATTER?
- The global digital freight forwarder market is expected to grow at a CAGR of 16.1% and reach $2B by 2025, according to Marketsandresearch.biz.
- The Covid-19 pandemic and subsequent supply chain disruptions have led to increased investments in freight management solutions. This is primarily to increase supply chain visibility and transparency and reduce costs.
- Global supply chain and logistics tech funding reached $14.9B across 530+ deals in 2020.