Sedna’s Smart Solution Helps Maritime Companies Escape “Noise and Confusion”
Sedna, a smart email platform designed to help maritime companies escape the “noise and confusion” of traditional email systems, has secured US$42 million in investment to expand its data-driven communications tool and develop new solutions.
The injection of capital was provided by global software investor Insight Partners with participation from GK Goh Ventures, one of Sedna’s earliest investors.
The funds will support the development and launch of new and enhanced features such as artificial intelligence and data science tools and establish new partnerships with other digital maritime leaders to integrate the email inbox with existing systems of record and bring important data under one roof.
“This additional funding provided by Insight Partners will pave the way in helping fill this ‘communication to action gap’ and create a connected, intelligent approach to make trade go faster,” said Bill Dobie, Sedna’s founder and CEO.
“The increased investment comes at a critical time as the shipping industry undergoes a quantum leap in the way it conducts its operations as a result of the fast-evolving pandemic, geopolitical tensions, climate change and the impact of AI. We’re excited to continue to work with Insight’s great leadership across its technology portfolio companies and are grateful for their visionary contribution.”
According to the company, Sedna works by tagging and sorting messages, reducing email volume and empowering teams and individuals to find the important data insights they need in seconds.
The platform, already used by “thousands of shipping and logistics employees worldwide”, the company said, aims to reduce common email challenges such as inbox overload, lost data, and siloed operations.
Sedna had previously raised US$44 million in funding, taking total investments since the company was launched six years ago to US$86 million. Previous investors have included Stride.VC, Chalfen Ventures and SAP.iO.
“With 90 percent of everything we buy transported via our oceans, the maritime industry is the bedrock of global trade and the world economy,” said Peter Segall, managing director at Insight Partners.
“Yet, despite its pivotal role in society, the ocean freight supply chain continues to operate using out-of-date email solutions leading to high email volume and difficulty in finding key information which limits business performance and profitability. Sedna’s technology is solving for this problem. We look forward to our ongoing partnership with Bill and Sedna as they continue to grow and scale up.”
Sedna will be exhibiting at Breakbulk Americas 2023, taking place on 26-28 September at the George R. Brown Convention Center in Houston, Texas.
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