# Shipamax

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shipamax

- Industry: Software
- Headquarters: London, UK
- Website: www.shipamax.com
- Total disclosed funding: $9.5M
- Latest round: Series A (Dec 30, 2019)
- Investors on record: 7

## About

Based in the UK, Shipamax Ltd. specializes in innovative data extraction software for logistics teams, enhancing operational efficiency through automation and improving data processing accuracy across various supply chain tasks.Shipamax Ltd. was founded in 2016 in London, UK, and operates as a technology firm focused on data extraction solutions for logistics. The company has successfully closed 4 deals, with the most recent deal occurring on November 2, 2022. In this round, Shipamax raised USD 7.000 mn during its Series A round, led by Mosaic Ventures and including investments from Crane Venture Partners and Y Combinator. Shipamax was acquired by WiseTech Global Limited in November 2022, with details of the transaction remaining undisclosed. The company aims to emphasize innovation and product development moving forward.Shipamax offers advanced data extraction software specifically tailored for logistics teams, enhancing data entry automation across various processes. The core product includes automated solutions for invoice reconciliation, customs compliance, import job creation, and export validation. These functionalities streamline the handling of incoming commercial invoices and Master Bills, automating the categorization, extraction, and validation of data in real-time with high accuracy. The end use cases address the needs of logistics organizations, allowing them to reconcile invoices and credit notes swiftly, ensuring seamless integration into systems such as CargoWiseOne without disrupting existing workflows. The company's clientele comprises respected logistics organizations and freight forwarders operating in diverse geographical markets, including North America, Europe, and Asia-Pacific, benefiting from the efficiencies gained through Shipamax's automation solutions.Shipamax generates revenue through a subscription-based model designed for logistics companies that utilize its data extraction capabilities. Clients typically enter into agreements where they subscribe to the software, allowing them to access its features and automation tools on an ongoing basis. The transaction structure is predominantly B2B, as the firm services business clients in the logistics and shipping sectors. Revenue is influenced by the scope of services adopted, with pricing plans tailored to the specific needs of each client, particularly for flagship services like invoice reconciliation and customs compliance. The software's implementation offers considerable time savings for clients, reinforcing the value proposition and driving continued investment in the service suite.Following its acquisition by WiseTech Global Limited, Shipamax plans to focus on innovation and product development. The company aims to expand its product offerings and is actively working on new solutions for the logistics sector. Specific markets targeted for expansion include the Asia-Pacific region, with plans to enhance its market presence by 2024. The recent funding will be allocated towards supporting these initiatives, emphasizing the development of advanced automation features to further streamline logistics processes.

## Funding rounds

- Series A, Dec 30, 2019, $7M — Y Combinator, Mosaic Ventures, Crane Venture Partners
- Seed, May 22, 2017, $2.5M — Founders Fund, AME Cloud Ventures, Cherubic Ventures
- Angel, Jul 4, 2016 — Dynamo

## Investors

- Dynamo — Angel
- Founders Fund (https://capitalatlas.ai/funds/founders-fund) — Seed
- AME Cloud Ventures (https://capitalatlas.ai/funds/ame-cloud-ventures) — Seed
- Cherubic Ventures (https://capitalatlas.ai/funds/cherubic-ventures) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A
- Mosaic Ventures (https://capitalatlas.ai/funds/mosaic-ventures) — Series A
- Crane Venture Partners (https://capitalatlas.ai/funds/crane-venture-partners) — Series A