Germany-based logistics software developer Sennder has raised $80m of additional funding to close a series D round backed by automotive manufacturer Scania at $240m.
Investment manager Baillie Gifford led the round, which included all Sennder’s significant existing investors, at a valuation of over $1bn, pushing its total funding past $350m.
The company had received $160m in the round’s first close, in January 2021, which was co-led by Scania and venture capital firms Project A, Lakestar, HV Capital and Accel.
Founded in 2015, Sennder operates an online freight-forwarding platform which connects large commercial shipping companies to a network of 12,500 trucks across Europe.
Sennder had received $70m in a July 2019 series C round led by Lakestar and backed by Scania unit Scania Growth Capital and Next47, an investment vehicle for industrial equipment and appliance provider Siemens.
Accel, H14, HV Holtzbrinck Ventures and Project A filled out the list of series C participants. Accel had led the company’s $30m series B round in March 2019, investing together with Scania, HV Holtzbrinck Ventures and Project A.
Scania Growth Capital had already supplied a seven-digit dollar amount of funding for Sennder in 2017. Investment firm Dynamo and VC firm Earlybird both list it as a portfolio company on their respective websites.