Sennder, a digital road freight forwarder, today announced that it has raised $160m in Series D financing, surpassing a $1bn valuation. New investors led the round, which involved all of sennder’s existing investors who reaffirmed their confidence in the company vision and direction. Round participants included Accel, Lakestar, HV Capital, Project A and Scania. To date, sennder has raised more than $260m.
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 Europe’s leading digital road freight forwarder.
Through its proprietary technology, sennder directly connects enterprise shippers with trucking companies, bringing greater transparency and efficiency to both carriers and shippers. sennder is committed to making the logistics industry fit for a sustainable future; by using data to optimize route efficiency, sennder reduces the environmental impact of road freight and decreases the cost of transportation.
The European logistics and freight sector has a market size of $427bn. sennder plans to capitalize on this opportunity by investing $100m of its Series D financing into growing and developing its innovative technology. The investment will expand the 200-person technology team and accelerate research and development into the automation, digitalization, optimization and decarbonization of road freight. Additional funding will be channeled towards driving expansion into new European markets. 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 €100m annual spending. sennder is also enjoying successful working partnerships with Scania and Siemens.
Supplying transport services to over 10 organizations listed in the German DAX 30, and 11 companies comprising the Euro Stoxx 50, sennder is well-positioned to connect small and mid-sized trucking companies with established shippers – providing them with access to loads.
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.“
The 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.