Ocean and air freight rate benchmarking and market analytics platform, Xeneta announced a US$80 million investment at a US$265 million valuation led by funds advised by Apax Digital, the growth equity arm of Apax, a global private equity advisory firm, with participation from NY-based Lugard Road Capital.
With this move, Xeneta aims to accelerate investments in platform development and continue scaling its global commercial teams.
“This will support expansion into new markets as companies seek to develop resilient supply chains to counter global trade volatility,” said Xeneta.
Xeneta noted that it provides organisations with large, neutral and accurate data source of real-time, on-demand ocean container and air freight rate market intelligence, whether for long-term contracts or spot trades.
“While global trade tries to get back on its feet after a couple of years of uncertainty, it’s clear that the overall logistics industry requires a re-think of how freight is bought and sold,” commented Xeneta CEO and co-founder, Patrik Berglund, who went on to add, “This new funding will help us accelerate development of our platform and add even more datasets to enrich our expert industry analyses to further drive transparency in the market.”
Xeneta’s customer portfolio includes Electrolux, Unilever, Nestle, Zebra Technologies, Thyssenkrupp, Volvo, General Mills, Procter & Gamble, and John Deere., among others