Cargobase Announces Successful Growth Financing Round
SINGAPORE, Sept. 20, 2022 /PRNewswire/ -- The TMS (Transport Management Software) Company - profitable for its third consecutive year - raises funds from Lufthansa Innovation Hub and Trestle Partners, reinforcing their joint commitment to supply chain tech innovation and digitalisation. The investment will be put towards accelerating global growth for Cargobase.
- Cargobase, a celebrated Transport Management Software known for its user-friendliness and no-nonsense approach, announced today that it has successfully closed its Growth Financing. The latest round was led by Trestle Partners and followed by Lufthansa Innovation Hub who have invested to accelerate Cargobase's global growth.
- Following a double YoY growth, the company, now profitable for its third consecutive year, will build upon this success, and channel the capital injection towards expansion of its international footprint, product development, and customer success.
- The company has opened an office in Mexico, and is expanding its footprint across USA and Europe through regional office setups.
- Recognized as a leader in product innovation, the investment will also go towards refinement of the user-experience, more integrations, richer data collection, predictive analytics, and automated decision-making.
- Existing management, led by CEO and Founder Wiebe Helder, will continue to lead the company.
"We (Cargobase and Trestle) share the same vision, to keep the world moving, and its CEO has a no-nonsense attitude and is laser-focused on 'Getting Ship Done'. Cargobase has provided logistics professionals with a well-built, comprehensive, and user-friendly enterprise SaaS. We are thrilled to partner with Wiebe and his team." - Managing Partner of Trestle, Thomas Babcock
"Our ambition is to further grow our business portfolio which consists of venture building, partnerships, and investments. Cargobase is a great addition. The software's value proposition to reduce complexity and bring more efficiency to global supply chains reflects our focus on digital business models and expands our knowledge in the field of transportation management software. Cargobase's global network with headquarters in Singapore underpins our commitment to Asia and our goal to drive businesses that have an impact on a global scale." - Christine Wang, Managing Director of Lufthansa Innovation Hub
"'Winter is coming' as some say, both for the supply chain industry as well as for investments. But as supply chains brace for a brand new season of change, we are already sprinting ahead. At Cargobase, we are proud of our technology as it empowers logistics professionals to go digital, in a time where logistics service providers rely – more-than-ever – on connected workflows to maximize efficiency and speed. Securing these investments is confirmation that we are on the right track, and an indication that we can potentially shape the future of supply chains as it sits at the tipping point of digital transformation." – CEO and Founder of Cargobase, Wiebe Helder
"We will use this latest round of funding to speed up tech-enablement for all our users through our Customer Success Team, as well as expand our user network through our Business Development Team." – Chief Strategy Officer of Cargobase, Arnout Wagenaar
"As the industry shifts towards more real-time and collaborative ways of doing business, we are proud to offer software that works; software that contributes to our customers' everyday cost savings and success. Our customers continue to recognize and reward Cargobase for innovation and providing a best-in-class TMS and we will be dedicating a part of the investment towards making the lives of logistics professionals as easy and automated as possible, so they can focus on the things that truly make an impact." – Chief Product Officer of Cargobase, Gert Jan Spriensma
About Cargobase
Founded in Singapore in 2013 by Wiebe Helder (CEO), Cargobase's mission is to simplify logistics for all. Its solution: "Logistics Software That Works".
Initially set up to help logistics professionals procure spot-buy freight, Cargobase was quickly lauded by the industry and loved by its users. It was awarded for innovation and highly praised for its user interface, product features, and ease-of-use. The platform covers the entire life-cycle of a shipment, from procurement, to track & trace, to audit, and data and business intelligence.
Today, Cargobase positions itself as a full-fledged TMS (Transport Management Software), and is currently ranked #6 out of 184 TMS Solutions worldwide by G2.
Cargobase's industry-agnostic Transport Management Software is used in 55 countries by Fortune 500 companies across the Automotive, Electronics, Semiconductor, Fashion, Oil & Gas, Aviation, and Agricultural sectors.
About Lufthansa Innovation Hub
The Lufthansa Innovation Hub (LIH) connects the world's largest aviation group with relevant players in the global travel & mobility tech ecosystem. In this role, LIH initiates, among other things, strategic partnerships between Lufthansa Group airlines and relevant digital companies, while also developing new in-house digital products and services. The focus is always on an uncompromising commitment to the needs of travellers and a strong iterative validation of business model innovations, as well as close collaboration with serial founders, investors, and existing start-ups.
About Trestle Partners
Trestle Partners is a private fund that invests solely in high-growth enterprise software (SaaS) businesses with a history of capital efficiency. Trestle is focused on partnering with businesses that provide mission-critical, high-ROI products to their clients.
Media contact
Danielle Lin
danielle@cargobase.com
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