Xeneta raises $80 million led by Apax Digital
Investment to fund expansion of Xeneta’s container shipping & air cargo market analytics platform
Xeneta, the leading ocean and air freight rate benchmarking and market analytics platform, raised $80 million investment at a valuation of $265 million from funds advised by Apax Digital, the growth equity arm of Apax, and participation from NY-based Lugard Road Capital.
"With this investment, Xeneta will 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," says an official announcement.
"The Xeneta platform delivers the one-two punch that modern companies look for in digitising their overall freight procurement or selling operations by providing access to an unrivalled amount of rate data (with 10 million rates added a month), as well as incorporating advanced analytics and visualisation. The all-in-one platform delivers further value by providing data and insights on capacity, reliability, blank sailings, detention and demurrage, dynamic load factor, emissions data, and more."
Patrik Berglund, Co-Founder and CEO, Xeneta says: "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. 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. We are proud to have a renowned global fund like Apax Digital and its expert operational team to work alongside us as we enter our next stage of growth."
Mark Beith, Partner at Apax Digital, who joins Xeneta board adds: "Buyers and sellers of freight have been flying blind in a complex and opaque market. Xeneta's world-leading dataset and cutting-edge platform provide unique access to granular real-time information and insight, enabling data-driven freight sales and purchases. This delivers compelling value for their blue-chip customer base – not just in sales or procurement, but also in budgeting and reporting, and increasingly in ESG monitoring. We're thrilled to partner with Patrik and the Xeneta team and help deliver their vision."
Xeneta's customers include Electrolux, Unilever, Nestle, Zebra Technologies, Thyssenkrupp, Volvo, General Mills, Procter & Gamble, and John Deere, the statement said.