- One year and a half after a 7M€ funding, SpaceFill has doubled in size and quadrupled its revenues.
- SpaceFill is the first European connected Warehousing Cloud with more than 1500 warehouses connected to its virtual control tower.
- With this new funding, SpaceFill intends to strengthen its leadership position by investing in its technology and its network.
Paris, March 16th, 2022 – Spacefill, Europe’s leading Warehousing Cloud platform, has raised €25M in a round led by NGP Capital alongside Maersk Growth with existing investors Eurazeo and La Famiglia also participating in the round.
The French logistics scale-up, disrupts the warehousing market by connecting mid to enterprise sized customers with warehouse partners. Spacefill’s platform enables customers to build, visualize, manage, and optimize their logistics networks, all-in-one place with just one integration to the Spacefill platform.
Supply chains have become the most strategic asset
“In 2022, selling great products is simply not enough to compete in the marketplace. It is not only about what you sell but how you get your product in the hands of your customer”, underlines Maxime Huzar, Spacefill’s CEO.
While technology evolves fast, the context is not getting easier. Harbor blockages, warehouse space shortages, shipment cost has multiplied by 4 during a global pandemic. These are just a few examples of how profoundly disturbed global supply chains have been over the past few years. They now embody the importance of resilience and flexibility in logistics capacities, and this is why they have become the priority for 93% of supply chain VPs (McKinsey survey 2020).
So how can companies adapt and not only react to the unexpected? One needs both the flexibility to adapt to a fast-moving market and the digital connectivity to keep track of your goods while moving through your infrastructure. To reach such an objective, shippers are faced with a difficult choice: should they make large fixed-costs investments to secure logistics capacities (physical and technological) when the table can be turned overnight?
To make logistics operations more flexible, 80% of enterprises rely on external logistics providers (3PLs) whether for warehousing or transportation solutions. However, this world is still very opaque and poorly connected, most of the classical collaboration goes through emails, phone and Excel which gets unsustainable when you scale your network. This is where software and integrations help a great deal. However, setting them up are still long costly projects to undertake. These 1:1, hard-to-maintain integrations also come at the cost of flexibility. When you change partners or shift strategy, you need to integrate all over again.
Spacefill offers state-of-the-art logistics all-in-one place
This dead-end is preventing supply chain flexibility, causing multiple errors and manual workarounds, pushing clients to competition due to poor supply chain experience and costing hundreds of millions of euros for shippers. For SpaceFill, this problem is a formidable opportunity. “Our goal since day one has been to provide shippers with plug & play integrated solutions that encompass both software connectivity and real-life locations all over Europe”, emphasizes Quentin Drillon, Spacefill’s COO.
SpaceFill’s platform is connected to more than 1500 partners in 6 European countries. Once onboarded, its customers can start building their network by collaborating with one of those partners directly on the platform or by connecting their existing locations. “Overflow, cross-docking, urban logistics or long-term outsourcing, our vision is to make any logistical challenge solvable directly on Spacefill’s cloud platform,” Spacefill’s CEO notes.
SpaceFill’s Warehousing Cloud has found its early-adopters. With more than 350 clients to date, Spacefill has quadrupled its turnover in 2022. They now can visualize, manage and optimize their supply chains, all-in-one place.
A major retail company testifies: “Thanks to SpaceFill, we were able to build a 18 connected warehousing network to absorb inventory overflow. Our supply chain network has never been this easy to monitor and operate. Less complexity, less management time, less errors, it has been a game-changer for us.”
The leading European Warehousing Cloud
As the leading European Warehousing Cloud provider, Spacefill has emerged as one of the major actors of the B2B sharing economy helping companies build greener supply chains. Spacefill reduces warehouse space waste, which still accounts for 25% of the total in Europe, while enabling shippers to choose the right warehouse locations cutting transportation costs and CO2 emissions by up to 24%.
In two years, Spacefill has become the first European Warehousing Cloud, serving more than 500 customers, and overpassing €10m in revenues and 60 employees in France and Germany. Getting the support of a pool of strong investors, specialized in the supply chain industry, such as NGP Capital, Eurazeo or Maersk Growth, is a key step to creating a continental champion.
Commenting on the investment, Christian Noske, Partner at NGP Capital, said: “SpaceFill enables companies to build integrated logistics solutions from day one and flexibly scale them as their needs evolve. Thanks to Spacefill’s Cloud approach, there is no need to create a patchwork of disconnected 3PLs in order to have real time visibility into warehouse operations. We believe this model represents the future of logistics and we are excited to be part of their journey.”
SpaceFill’s ambition is to become as indispensable for storing goods in supply chains as the Cloud is for storing data online. As such, the company will use this new investment to recruit 80 people, mostly within their engineering department.
“Our 2022 priorities are twofold. First, to keep building our platform to provide a smoother user experience and new features. Second, to expand our connected network to offer new locations and expertise to our customers across Europe,” concludes Huzar.
For media inquiries, contact:
Founded in 2018 by Maxime Huzar, Gustave Roche, and Quentin Drillon, Spacefill is now the leader of Warehousing Cloud in Europe. Spacefill wants to make using storage space as easy as storing your data in the cloud. In Europe, supply chain managers already use its service to expand, manage and optimize their storage capacities in a few clicks through the platform. Spacefill works with more than 1500 connected logistics partners, over 6 European countries. Today, the company helps more than 500 clients perform diverse and complex logistics operations while enabling them to optimize their supply chains.
About NGP Capital
NGP Capital is a global venture capital firm with over $1.6 billion under management, investing in growth-stage technology companies within the Edge Cloud, Cyber Security, Digital Industry, and Digital Transformation. NGP Capital backs entrepreneurs building a responsible and inclusive world where the confluence of sensors, mobility, software, and cloud solutions will connect people and industries in new ways, transforming how we live and work. Since 2005 NGP Capital has invested in more than 100 companies, 17 of these have achieved unicorn status. NGP Capital is active in the U.S., Europe, and China. Visit us at www.ngpcap.com and follow-on LinkedIn (ngp capital) and Twitter (@ngpcapital).