Zencargo raises Series B
We’re delighted to share that Zencargo has successfully raised £30 million as part of our Series B funding round.
This marks an exciting next step for Zencargo – and at a time when supply chains have never been more important.
We’d like to thank our lead investor Yttrium for supporting us, as well as our other investors in this round, including our Series A champion, HV Capital. This round brings our total investment to date to £42 million.
Making supply chain advantage more accessible
With this investment, we’re able to add even greater resources to the pursuit of our mission: to make our customers’ supply chains their competitive advantage.
We’ll be doing that by expanding our team significantly (go and check out our open roles!), as well as further developing our product.
We will also be looking to increase our presence internationally. We’ll be opening new offices in the Netherlands, Hong Kong and the US, so we can offer more in-depth, flexible support to our customers across the world.
Built on customer success
We founded Zencargo on the belief that there was a better way to run supply chains using technology. Our customers, and the results they have achieved, are proof of that.
One is using shipment data from the Zencargo platform to power real-time delivery estimates on their e-commerce website. Another now has full order visibility down to the SKU level, so they can tell their customers exactly what’s due to arrive when. Across the board, we see our customers standardising and optimising their inbound supply chain, with Zencargo as their trusted freight partner.
And with the time saved from chasing and fire-fighting, supply chain teams can get back to their core strength: driving longer-term, strategic value. One particular Zencargo customer was able to work more closely with the Product Design team to make packaging more space-efficient. In one stroke, they have helped reduce landed cost per item, and made their inbound supply chain more environmentally sustainable. Of course, our team was on hand to help build out accurate loading plans.
Growing as a team
Speaking of our team, we wouldn’t be where we are today without their initiative, creativity and commitment to delivering the best possible outcomes for our customers.
When the news broke of the Ever Given blockage, our team immediately sprang into action to create a live dashboard, mapping all Zencargo shipments with vessels that were affected by the blockage. They then worked directly with affected customers to arrange mitigations and alternative plans. In moments like this, the culture we have built at Zencargo shines through.
Raising a Series B is an exciting time for any business. We’re thrilled to be starting on the next stage of our plan, not least because we believe Zencargo is doing something special. We’re combining unrivalled industry experience and knowledge with technology that’s purpose-built to make our customers’ supply chains more efficient, more cost-effective and more sustainable. We’re already creating value for our customers – and this is only the beginning.
Alex and Richard
Co-founders of Zencargo