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.

Author: David Holley

David is the national correspondent at Xconomy. He has spent most of his career covering business of every kind, from breweries in Oregon to investment banks in New York. A native of the Pacific Northwest, David started his career reporting at weekly and daily newspapers, covering murder trials, city council meetings, the expanding startup tech industry in the region, and everything between. He left the West Coast to pursue business journalism in New York, first writing about biotech and then private equity at The Deal. After a stint at Bloomberg News writing about high-yield bonds and leveraged loans, David relocated from New York to Austin, TX. He graduated from Portland State University.