German company sennder, one of Europe’s leading digital road freight forwarders, has today announced that it has raised around €131.2 million in Series D financing, surpassing a $1 billion (approx. €822 million) valuation. New investors led the round, which also involved all of sennder’s existing investors, overall including Accel, Lakestar, HV Capital, Project A and Scania.
Since its founding in 2015 by David Nothacker, Julius Köhler and Nicolaus Schefenacker, Berlin-based sennder has grown remarkably, increasing its headcount to more than 800 employees across its seven international offices. The business will move over 1 million truckloads this year, making sennder one of Europe’s leading digital road freight forwarders.
Through its proprietary technology, sennder directly connects enterprise shippers with trucking companies, bringing greater transparency and efficiency to both carriers and shippers. They have a sustainable mission too; by using data to optimize route efficiency, sennder reduces the environmental impact of road freight and decreases the cost of transportation.
The fresh funds will expand the startup’s 200-person technology team and accelerate research and development into the automation, digitalization, optimization and decarbonization of road freight. Additional funding will be channelled towards driving expansion into new European markets. Overall, sennder will focus on replicating the success it has had with Poste Italiane, where, through the Italian joint venture, sennder has helped the business save 6% of its €100 million annual spending.
David Nothacker, CEO and co-founder of sennder, said: “I’m very proud to see sennder’s mission and vision become a reality. We are now an established industry player on equal terms with other more traditional sector pioneers, but have maintained our founding spirit. As a data-driven company, we contribute to making the logistics industry fit for a sustainable future; ensuring transparency, flexibility and efficiency in the distribution of goods. The COVID-19 pandemic has demonstrated the importance of a digitalized logistics industry. Throughout 2020, we helped our carriers increase their profitability by enhancing operating margins by up to 80% during a challenging time. sennder is uniquely positioned to drive industry digitalization, benefiting shippers and carriers alike.“
Sonali De Rycker, Partner at Accel says: “It is always fantastic to see a portfolio company reach such a significant milestone. Well done to the sennder team – by revolutionizing the freight industry at an unprecedented pace, they have quickly become one of Europe’s most exciting companies. 2020 highlighted the value that sennder’s innovative digital offering brings to the freight industry. 2021 is well-positioned to be another exciting year for the business. We look forward to helping sennder continue accelerating its growth across Europe.”
This month’s funding follows a remarkable year for sennder. In 2020, the business undertook two notable transactions: firstly, merging with French competitor Everoad in June and secondly, acquiring Uber Freight’s European business in September.