uShip Lands $25 Million in Venture Capital Funding

uShip, the online shipping marketplace and freight automation software provider, Wednesday announced it has closed on a $25 million round of funding.

DB Schenker, one of the world’s largest logistics companies owned by Deutsche Bahn AG, led the Series D round. To date, Austin-based uShip has raised $50 million with previous rounds led by Benchmark Capital, DAG Ventures, and Kleiner Perkins Caufield Byers.

DB Schenker and uShip are partners. Last summer, the two companies struck a five year agreement to create Drive4Schenker, an online trucking platform using uShip’s software and technology. This month, that program began rolling out in Germany. It is managing 5,000 loads per day with 30,000 DB Schenker transport providers. The program will continue to roll out throughout Europe in coming months.

“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,” Jochen Thewes, CEO of Schenker AG said in a news release. “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.”

With the new funding, uShip plans to accelerate the development of its logistics software platform.

“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,” Mike Williams, CEO of uShip, said in a news release. “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.”

Comments

  1. Great Read! jsmith

Trackbacks

  1. […] In $25 Million for Online Shipping Solution DB Schenker led the Series D round, Silicon Hills reported. uShip will put the funding toward accelerating product […]

Speak Your Mind

*