Sedna raises $42m in new funding for maritime email data platform

Maritime email data platform Sedna has announced that it has raised $42 million in additional investment from global software investor, Insight Partners, taking the total investment in Sedna from various backers to $86 million to date.

The latest investment also included participation from GK Goh Ventures, who led Sedna’s earlier seed round after the company was founded in 2017.

The company plans to use the new funds to expand its platform and develop new functionality, including the development of features like AI and data science tools, as well as establishing new partnerships with other digital maritime stakeholders to integrate the email inbox with existing systems of record.

“This additional funding provided by Insight Partners will pave the way in helping fill this ‘communication to action gap’ and create a connected, intelligent approach to make trade go faster,” said Bill Dobie, Founder and CEO of Sedna.

“The increased investment comes at a critical time as the shipping industry undergoes a quantum leap in the way it conducts its operations as a result of the fast-evolving pandemic, geopolitical tensions, climate change and the impact of AI.”

“We’re excited to continue to work with Insight’s great leadership across its technology portfolio companies and are grateful for their visionary contribution to our work.”

Sedna already counts maritime and logistics organisations such as Bunge, FedNav, Glencore, Oldendorff, NORDEN, OMV, Stena Bulk and MOL Chemical Tankers among its clients. Its other investors from previous funding rounds include Stride.VC, Chalfen Ventures and SAP.iO.

“With ninety percent of everything we buy transported via our oceans, the maritime industry is the bedrock of global trade and the world economy. Yet, despite its pivotal role in society, the ocean freight supply chain continues to operate using out-of-date email solutions leading to high email volume and difficulty in finding key information which limits business performance and profitability,” said Peter Segall, Managing Director at Insight Partners.

“Sedna’s technology is solving for this problem. We look forward to our ongoing partnership with Bill and Sedna as they continue to grow and scale up.”

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Rob O'Dwyer

Rob is Chief Network Officer and one of the founders of Smart Maritime Network. He also serves as Chairman of the Smart Maritime Council. Rob has worked in the maritime technology sector since 2005, managing editorial for a range of leading publications in the transport and logistics sector. Get in touch by email by clicking here, or on LinkedIn by clicking here.

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