Shipamax, founded in 2016 and based in London, provides logistics automation software that identifies emails and documents, extracts and understands data, and syncs with TMS/ERP systems via an open API. The company offers a plug-and-play toolkit using proprietary anti-template technology so customers do not need to build or maintain templates. Shipamax says its solution can reduce data-entry costs by 80% and currently processes 18 million emails and documents a year with zero customer churn. It targets freight forwarders and traditional shippers operating in the $658 billion logistics services industry, where operations teams handle many documents per shipment. The funding will be used to double the company’s size in the coming months, with investments planned in engineering and customer success. Founders Jenna Brown and Fabian Blaicher aim to roll the product out more broadly across the industry. Shipamax builds a cloud software platform to digitize booking, scheduling and communications for the bulk shipping industry. The product ingests unstructured communications (emails and messages), structures the data and centralizes workflows to replace email, messaging and spreadsheets. The company plans to use the $2.5M seed funding to continue building and marketing the platform. Shipamax notes that shipowners and brokers often receive in excess of 5,000 emails daily, making data structuring and workflow automation valuable. The startup positions its software as a way to improve efficiency in a sector where freight prices have fallen 90% since 2008 while dry bulk demand has risen about 40% since the financial crisis. Shipamax graduated from Y Combinator and was founded in 2016.

Total raised

$10M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2020