Freight rate benchmarking and analytics platform Xeneta has announced an $80 million investment in the company at a $265 million valuation, with the capital to be used to further develop its platform and continue scaling its global commercial teams.
The investment round was led by funds advised by Apax Digital, the growth equity arm of Apax, with participation from NY-based Lugard Road Capital.
Xeneta provides organisations with a neutral data source of real-time, on-demand ocean container and air freight rate market intelligence, for long-term contracts or spot trades. The platform ads 10 million rates per month, as well as incorporating analytics and visualisation for users to gather information on capacity, reliability, blank sailings, detention and demurrage, dynamic load factor, and emissions.
“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,” said Xeneta CEO and Co-founder Patrik Berglund.
“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.”
