Sennder, a big digital highway freight forwarder based mostly out of Germany, has raised $160m in Sequence D financing. The spherical was led by an unnamed occasion, however spherical individuals included Accel, Lakestar, HV Capital, Challenge A and Scania. Up to now, Sennder has raised greater than $260m, permitting it to put declare to a possible $1bn valuation.
Sennder straight connects enterprise shippers with trucking corporations, thus disintermediating the standard freight mannequin. It says it is going to transfer over 1 million truckloads this yr. To date it’s targeting the profitable European market. In June 2020 it merged with French competitor Everoad and purchased Uber Freight’s European enterprise final September. The European logistics and freight sector has a market measurement of $427bn.
Sennder competes with giant incumbents like Wincanton and CH Robinson in addition to different startups similar to OnTrac in Spin, and Instafreight.
The entire digital freight forwarding market is booming. Solely final November, Germany’s Forto, a digital freight forwarder raised one other $50 million in funding taking its complete raised to $103 million. And in 2018 FreightHub, one other European digital freight forwarder, raised $30 million in Sequence B financing.
Sennder’s new funding will imply it may possibly increase in European markets. It already companions with Poste Italiane in Italy, in addition to Scania and Siemens, and is now supplying transport providers to over 10 organizations listed within the German DAX 30, and 11 corporations comprising the Euro Stoxx 50.
Since its founding in 2015 by David Nothacker, Julius Köhler and Nicolaus Schefenacker, the corporate has grown to 800 staff and 7 worldwide places of work.
David Nothacker, CEO and Co-Founding father of Sennder, mentioned: “We are actually a longtime business participant on equal phrases with different extra conventional sector pioneers, however have maintained our founding spirit. As a data-driven firm, we contribute to creating the logistics business match for a sustainable future; guaranteeing transparency, flexibility and effectivity within the distribution of products. The COVID-19 pandemic has demonstrated the significance of a digitalized logistics business.
Sonali De Rycker, Associate at Accel commented: “It’s all the time improbable to see a portfolio firm attain such a major milestone. 2020 highlighted the worth that Sennder’s progressive digital providing brings to the freight business.”