2022: Shipwell Has Best Year Ever, Triples Year-Over-Year Revenue

AUSTIN, Texas--(BUSINESS WIRE)--Shipwell, a leading cloud transportation management, visibility, and freight procurement solutions provider, announced today exceptional financial and customer satisfaction highlights for 2022. Despite a difficult year for tech companies and continuing challenges in global supply chain execution, Shipwell achieved notable new milestones in growth, revenue, customer satisfaction, and other areas, including:

• A 3.5x increase in revenue year-over-year in its SaaS platform business
• Doubling its unique customer count
• New partnerships with some of the most innovation-forward companies, including brands such as (Ace Screws, CG Roxane/ Crystal Geyser, Golden West Food Group, Good360, Home Chef, Phantom Fireworks, Schweid & Sons, Spindrift Beverage Company, and many others)
• A continued rise in Net Promoter Score (NPS), now at 66 (excellent)
• Strengthening net revenue retention to 139%
• Expanding total logo retention to 96%

The customer growth marks Shipwell’s meteoric rise among supply chain technology vendors during a year when many businesses and markets still struggled to find post-pandemic stability. Headwinds for the supply chain industry in 2022 included continued volatility in port congestion, shipping rates, capacity availability, ongoing inventory imbalances, growing inflation, and capital costs toward the end of the year. Where these challenges saw many tech companies in the supply chain space announcing layoffs or staff reductions in the latter half of the year, Shipwell continued to innovate and continue their rapid growth.

Shipwell CEO and co-founder, Greg Price, commented on the year’s breakthrough results: “We’re proud to be able to deliver both immediate and tangible business value to our customers and honored to be a strategic partner and trusted advisor on their journeys toward digital supply chain transformation.”

The past three years have witnessed increasing recognition of the value of transportation management as a competitive differentiator by shippers of all sizes. The Shipwell cloud-based transportation management system (TMS) offers real-time visibility and data analytics. It employs artificial intelligence to speed better decision-making, with a uniquely streamlined user experience that enables even new logistics hires to become productive more quickly.

“We’re confident that our technology provides the best advantage to shippers, with the intelligence, agility, and efficiency they need to compete effectively, efficiently, and with predictability,” added Price. “Our goal is to bring the most advanced technology and services to optimize every aspect of supply chain and logistics processes.”

Additional highlights and recognitions for Shipwell in 2022 included:

• Continued rise in the 2022 Gartner(R) Magic Quadrant for Transportation Management Systems
• Excellence in Gartner(R) Peer Insights rating of 4.5/5
• New product innovation that delivers powerful capabilities like native load optimization to automate the consolidation and routing process to reduce costs and miles driven, RFP automation to modernize the procurement process for a more accurate and responsive bidding process, as well as financial settlement, multi-mode support, dock appointment scheduling and more.
• Selected by Trimble Inc. as a recommended vendor for their customers, replacing the now-discontinued Kuebix TMS
• Recognition in Food Logistics’ 2022 Top Software & Technology Providers
• FreightWaves’ FreightTech 2022 Awards for Innovation and Disruption in Freight Industry
• Greg Price (CEO and co-founder) and Karen Sage (CMO) were recognized as 2022 Supply Chain Executive Magazine’s Pros-to-Know

To support the company’s rapid growth and strategic expansion, Shipwell added several logistics industry experienced individuals to its high-performing team in 2022, including the appointment of its first Chief Marketing Officer:

• Karen Sage, as Chief Marketing Officer
• Brad Hoffman, as VP of Sales
• Jerry Holbus as VP of Product
• Monica Truelsch, as Director of Product Marketing
• David Bianconi, as Director of Professional Services

To learn more about Shipwell and its innovative supply chain solutions, go to shipwell.com.

About Shipwell

At Shipwell, we empower supply chain efficiency and service effectiveness at scale. The Shipwell platform includes capabilities previously out of most shippers' technical reach and affordability today. Our solution combines everything shippers need, from transportation management and visibility to procurement, in a comprehensive, easy-to-use platform. It will adapt and scale as market and business demands change, allowing shippers to operate, manage, and optimize the shipping process seamlessly. Industry experts have recognized Shipwell's traction in the market and have differentiated Shipwell as a leader in the logistics industry. Awards include Gartner Magic Quadrant for TMS 2022, 2021, Food Logistics’ 2022 Top Software & Technology Providers, and FreightWaves’ FreightTech 2022 and 2021 Awards for Innovation and Disruption in Freight Industry. Shipwell was also named the fourth fastest-growing company in North America on the 2021 Deloitte Technology Fast 500 and Forbes 2020 Next Billion-Dollar Startup. To learn more, visit www.shipwell.com.