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German payload send on unicorn Sennder is on a roll . The companysaid on Tuesdaythat it is acquiring the European ground transportation asset of logistics colossus C.H. Robinson in an all - cash deal . It did not disclose the financial terms of the deal , but a source close-fitting to the troupe told TechCrunch it is standardized in value to Sennder ’s 2020 skill ofUber ’s European freight business .
That deal was an all - strain dealings andrumoredto be deserving around € 900 million at the time .
C.H. Robinson isestimatedto be the second - biggest logistics provider globally after Amazon , and its securities industry cap is currentlyover $ 10 billion . The acquisition is expected to double Sennder ’s one-year revenue to € 1.4 billion ( think of it is currently seeing revenues of € 700 million , and so is the cognitive process it is buying ) . The combined business will have 1,700 employee across 20 market , redact Sennder among the top five companies go in the “ full truck burden ” services in Europe .
Notably , this is the second scoop that Sennder is taking out of C.H. Robinson ’s business enterprise : In May it poached the bigger company ’s top dog of engineering , Kollen Glynn , as itsnew CTO .
Sennder has also made other acquisitions to expand its fleet and overall footmark . In 2021 , it acquiredCars&Cargoout of The Netherlands , also for an undisclosed cost .
Both of those acquisitions were play out at a time when e - commerce , and the wide technology grocery store , were hitting high - water marks . The spread of COVID-19 maintain consumer go at home and staying online more , which caused them to bribe commodity and service online instead of in mortal .
All of that also contributed to two fundraises for Sennder in speedy succession : It raised$160 millionin January 2021 , andanother $ 80 millionin June 2021 at a evaluation of over $ 1 billion .
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Many sector in tech , admit e - commercialism , are now operating in leaner conditions , which make Sennder ’s late acquisition all the more interesting . It does underscore the bigger consolidation dally that we have been tracking across multiple sphere , where company with the cash ( or desired shares ) to spare are snapping up assets to get better economies of scale . Meanwhile , others are working to downsize ( and sell off assets ) to come down operational cost as they centre on their meat operations .
The deal is expected to close in Q4 2024 , follow regulatory approval . We understand that another fundraise is one of the “ strategic options ” Sennder is exploring even though it might not look like a classic venture fundraise . Sennder ’s current investor include Baillie Gifford , Hedosophia , Accel , Lakestar , HV Capital , Project A and Scania .
“ As of today , we do not call for another bout of financing for the clip being , ” David Nothacker , CEO and co - father of Sennder , tell TechCrunch . “ However , with our newfangled size of it , wholly unlike chance are emerging , which we will be exploring in the coming months . We want to keep investing , we require to keep growing , we have giving plans . ”
“ This skill will be pivotal in get on Sennder ’s roadmap . With its vision to speed worldwide patronage to present products and goods that drive the world ’s economy , C.H. Robinson line up powerfully with sennder ’s mission and values to create an efficient and sustainable road freight internet in Europe , ” Nothacker said in a statement . “ We are deeply impressed by the European Surface Transportation squad from C.H. Robinson , and with our combined business and enhanced gift pool , we can deliver substantial growth and operable scale , accelerating our European enlargement and increasing web denseness and digital capacity for the benefit of carriers , shippers , and the wider diligence . We are excited to welcome the EST team , and embark on the next chapter of sennder ’s journey . ”
This story was update with an additional comment from the CEO on Sennder ’s fundraising plans .
