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Shipsy, a leading SaaS-based provider of smart logistics management, recently announced its first employee stock ownership plan (ESOP) buyback.
The buyback is open to all current full-time Shipsy employees who have completed at least one year of full-time employment. Over the past year and a half, early investors in Shipsy have realized the significant value of the organization’s secondary and repurchase transactions.
Shipsy’s annual growth rate is 2.5 times. Last year, its recurring revenue grew more than 100%, and its customer base grew by 75%. To scale operations, the SaaS provider is rapidly expanding its workforce and recruiting top talent from around the world.
In less than seven years, Shipsy has grown to more than 350 employees. Additionally, to ensure rapid global adoption of its technology, Shipsy is partnering with global system integrators, evangelists and ISVs.
huge growth
“We’ve grown tremendously over the past few years. Our success is a collective effort of each of us at Shipsy, and celebrating together is part of our cultural DNA. We’ve expanded our buyback option to make these wins important to us “They and their families have been steadfast partners in our success,” said Soham Chokshi, CEO and co-founder of Shipsy. It’s just a way of expressing our gratitude for the value they bring to the company. “
The leading SaaS-based provider of smart logistics management raised $25 million earlier this year from A91 Partners and Z3 Partners, along with existing investors Info Edge and Sequoia Capital India’s Surge, bringing its total funding to nearly $33 million .
Besides India, the company has headquarters and a strong presence in the Middle East and Southeast Asia, with plans to open offices in the Americas and Europe soon. It envisions being the global de-facto platform so that every package delivered across borders or domestically is powered by Shipsy’s technology.
Shipsy is the technology partner of choice for more than 220 businesses worldwide, including Fortune 100 giants, the world’s largest petrochemical manufacturer, the most popular pizza chain, the leading express commercial grocery provider, the largest confectionery manufacturer and distributor, Leading courier companies, express and package delivery providers in Asia, and many other leading companies. It helps source more than $2 billion worth of shipments annually and optimizes the shipment of more than 70 million packages per month through its platform. — trade arab news agency
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