Oslo-based ocean and air freight rate benchmarking platform and container shipping index, Xeneta has raised $80 million in funding at a $265 million valuation.
The new funds will allow Xeneta to accelerate investments in platform development.
The startup plans to expand into new markets as companies seek to develop resilient supply chains to counter global trade volatility.
The investment was led by funds advised by Apax Digital, the growth equity arm of Apax, with participation from NY-based Lugard Road Capital.
The startup is digitizing the overall freight procurement or selling operations by providing access to an unrivaled amount of rate data.
The company claims its data comprises more than 300 million contracted container and air freight rates and covers more than 160,000 global trade routes.
The platform delivers further value by providing data and insights on capacity, reliability, blank sailings, detention and demurrage, dynamic load factor, emissions data, and more.
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