Xeneta's Next Chapter: Announcing our Series C Funding of $28.5M
The past year has been insane for our everyday lives and for our industry. So much has changed, and as you know, change is the only constant. Though COVID-19 has brought a ton of challenges to all of us in all shapes and forms, we have grounded ourselves in our values of "transparency builds trust", "modernization through data", "variety and fairness" and "Xeneta is One". This has carried us through, and today, I am happy to announce that we have secured a Series C funding round of $28.5 million led by NY-based hedge fund, Lugard Road/Luxor Capital, with existing investors Creandum and Investinor also participating.
Our new investment will help accelerate our mission to bring transparency and efficiency to ocean and air freight procurement. To be the single-source of rate truth in the industry. We will continue working to develop data-driven insights for freight procurement at scale, support the continued growth of our global footprint and fuel our passion for continued data innovation.
I am super proud of the team and the entire Xeneta family, for everything we managed to pull through in a challenging year. We are more ready than ever to grow the company.
We will invest heavily into what our customers need to navigate the current supply chain disruptions, improve our user experience and provide additional data insights so they are always one step ahead of the market.
A big thank you to our customers who have supported us every step of the way and have been with us on this journey. We are forever grateful.
I'm excited about what's to come and the opportunity ahead. The industry is ready now.