ERES IV invests in FreightWise
ERES IV has invested $25m in FreightWise, the US logistics technology business, alongside the founders, Unigestion and Riverside Acceleration Capital.
Founded in 2015, FreightWise is a logistics technology company that delivers faster shipping times and lower shipping costs to customers around the US and Canada. Through its proprietary cloud-first, mobile-friendly Transportation Management System, shippers can manage freight data, decisions and documents in a seamless manner integrated across their current ERP, warehouse and other internal systems. FreightWise combines its technology platform with a managed service offering, including cost management, freight audit and pay, which generates immediate and ongoing savings for its customers.
FreightWise has more than 170 customers spanning manufacturing, technology, distribution and retail industries and a growing team of 130 employees. It aims to more than triple its customer base and staff over the next five years.
The growth in e-commerce continues to drive higher volumes and pricing in the North American freight market and has raised expectations from end-customers. To meet those challenges, FreightWise delivers the tools for shippers to better manage their freight through improved supply chain strategy, lower freight costs (>20% savings) and streamlined operations, ultimately driving better end-customer outcomes.
Vincent Manès and Maxence de Vienne, Partners at Elyan Partners, say: “We are excited to support FreightWise in its continuous conquest of the buoyant US logistics market. We were impressed by its founders led by CEO Chris Cochran and are thrilled to collaborate with them in the next chapter of FreightWise’s growth story.”
Mike Toedtli, Principal at Unigestion, says: “Our investment strategy is focused on providing flexible capital solutions to entrepreneur-led businesses that have a proven product/market fit and ambitious plans for the future. The founders have built an incredible team at FreightWise and we are thrilled to join them in their next phase of organic and acquisitive growth.”
Rich Peretz, Senior Industrial Advisor at Unigestion (ex-CFO of UPS), says: “We have looked at many opportunities in the logistics space and it is rare to find a team who have a potent mix of first-hand supply-chain and technology expertise. I am excited about working with the team at FreightWise to grow the market footprint and expand the offering even further.”
Chris Cochran, Founder and Chief Executive Officer of FreightWise, says: “We started in 2015 with a simple belief that technology, paired with industry know-how, can save shippers tremendous amounts of time and money. Our game plan has been simple – identify shippers’ pain points and build solutions that work. We are moving fast and adding new capabilities weekly and sometimes even daily. We are constantly looking for ways to make our clients’ lives easier and to solve more of the industry’s needs.”
About Elyan Partners and Edmond de Rothschild Private Equity
Elyan Partners is a member of the Edmond de Rothschild Private Equity partnership and is the exclusive financial advisor for the ERES (Edmond de Rothschild Equity Strategies) and Privilege funds, together totaling close to €1 billion in assets under management. Through a collaborative investment strategy with management teams and shareholders, Elyan is committed to supporting the sustainable growth of midcap companies in Europe and the United States.
Edmond de Rothschild Private Equity is an independent firm, part of Edmond de Rothschild Asset Management, with over CHF3 billion in assets under management. With an entrepreneurial approach to finance and backed by strong convictions, Edmond de Rothschild Private Equity builds and develops differentiating investment strategies that provide a sustainable response to environmental and social issues. Created in 1953, the Edmond de Rothschild group has CHF 168 billion in assets under management, 2,500 employees and 33 locations worldwide.