uShip announced a $25 million Series D round of funding today, led by logistic company and uShip partner DB Schenker.
The funding will be used to further the development of uShip’s software for high-volume enterprise shippers and small and midsize businesses shipping less-than-truckload 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,” said Mike Williams, uShip’s CEO, in a statement. “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.”
In July last year, uShip and DB Schenker announced a five-year partner agreement to develop “Drive4Schenker.” Built on uShip PRO’s enterprise freight automation software, Drive4Schenker launched this February in Germany with plans to expand throughout Europe. The platform manages 5,000 loads daily for 30,000 DB Schenker transport providers.
Since its launch in 2003, uShip has raised $50 million from previous investors that include Benchmark Capital, DAG Ventures, and Kleiner Perkins Caufield Byers. It now operates in 19 countries with 800,000 service providers to compete for online shipping, transport and freight business.
“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,” said Jim Martell, executive chairman of the board at uShip, in a statement.
In general, the logistics technology startup industry has experienced a major increase in investor backing. In 2015, only 26 investments and acquisitions were made by top pure-play logistic corporations. However, last year logistics tech startups were pacing to raise over $5 billion across 300 deals, according to CB Insights.
Image via uShip and Facebook.
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