AUSTIN, TX, uShip, the online shipping marketplace and freight automation software provider, today announced the close of a $25M Series D round.
for more funding data on uShip.com
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The round was led by DB Schenker, one of the world's largest logistics companies and an existing uShip partner.
DB Schenker's funding comes on the heels of unprecedented investment in logistics and supply chain technology. Since 2015, top pure-play logistics corporations have made 26 investments and/or acquisitions (13 each year), while logistics tech startupswere on pace (as of October) to raise $5B through over 300 deals in 2016, according toCB Insights.
uShip has now raised $50M to date, with previous rounds led by Benchmark Capital (2005, 2007), DAG Ventures (2007), and Kleiner Perkins Caufield Byers (2013).
Last July, DB Schenker and uShip announced a milestone five-year agreement worth tens of millions to create 'Drive4Schenker,' an online trucking platform, powered by uShip PRO, uShip's enterprise freight automation technology. Earlier this month, 'Drive4Schenker' launched in Germany and will continue to roll out across Europe, optimizing management of 5,000 loads per day with 30,000 DB Schenker transport providers.
'Expanding our successful partnership will expedite and streamline transport management and help us, as a market leader in European land transport, to handle even larger volumes of freight,' says Jochen Thewes, CEO of Schenker AG. 'We also intend to quickly develop and tap new opportunities to grow outside of our traditional business models. This is our largest equity interest in a digital company to date and it shows how serious we are about innovation at DB Schenker. We're investing in shaping the future of digital logistics.'
uShip plans to use the investment to accelerate development of its logistics software platform for key business segments, including high-volume enterprise shippers and small and midsize businesses (SMB) shipping less-than-truckload (LTL) freight.
'Major players like DB Schenker are taking advantage of technology that will automate and digitize their operations, helping them maintain market leadership and evolve with demand,' says Mike Williams, CEO of uShip. 'It's a thrilling time to be at the leading edge of this logistics transformation and to deepen our partnership through DB Schenker's strategic investment.'
'The industry continues to see unprecedented investment in logistics technology that's driving innovation and disruption never seen before, making transport faster, easier, more efficient, and ultimately more profitable,' says Jim Martell, executive chairman of the board at uShip.
About DB Schenker
DB Schenker is one of the leading globally integrated logistics service providers and handles all of Deutsche Bahn's transportation and logistics operations. DB Schenker Logistics offers land transport, air and ocean freight, as well as comprehensive logistics solutions and global supply chain management from a single source.
uShip is an online shipping, transport and freight marketplace that enables individuals to enterprises, and any business with freight, to price-search, book and ship anything they want to move -- locally or globally. From cars to cranes, freight to furniture, and beyond, uShip's platform enables 800,000 feedback-rated service providers to compete for business. Headquartered in Austin, Texas, and Amsterdam, uShip operates globally in 19 countries. Find out more by visiting uship.com, following on Facebook atfacebook.com/uship or Twitter at @uship.