After CEO Hire, uShip Adds $25M to Further Freight Shipping Software
Austin—UShip, one week after announcing it hired a new CEO, said the company has raised a $25 million round of funding from German shipping logistics company DB Schenker, which uShip signed a deal with last year.
Schenker announced in July that it signed a five-year agreement to use uShip’s enterprise freight-focused software to match freight carriers with shippers in Europe, a partnership the German company says is worth “tens of millions of dollars.” Schenker didn’t disclose the exact terms.
The new round brings uShip’s total venture funding to $50 million since it was founded in 2004, having last raised $18 million from Kleiner Perkins Caufield & Byers in late 2012. The company plans to use the funding to further develop its software. Last week, uShip announced it had hired a new CEO, Mike Williams.