SHANGHAI, Sept. 13, 2016 /PRNewswire/ -- oTMS, the leading one-stop transportation platform, on September 6th 2016 announced that it raised $25 million in Series B funding led by Chen Weixing, the founder of Kuaidi Dache. Previous investors Baidu, Chengwei capital and Matrix Partners China also participated in the round. China Renaissance was the exclusive financial advisor of the deal. The funding will be used to support oTMS's dramatic growth, enhance its product depth and breadth and broaden its national footprint.
"I have seen many logistics internet innovation, the idea of oTMS has truly reflected the core value of the Internet by connecting people & companies with cloud & mobile technologies through unique transport ecosystem and create new business opportunities. oTMS is the one we can truly count on to undertake the mission of disrupting logistics industry," said Chen Wexing, the founder of Kuaidi Dache who has also invested in other "Internet + Logistic" companies. Compared to institutional investors, oTMS has chosen an individual investor Chen Weixing mainly due to his vast experience and insights in Internet products and the logistics industry. With Chen's involvement, oTMS is hoping to accelerate the growth of its platform business, enhance the user experience of its products and to substantially expand its sales channels and sales opportunities.
Mirek Dabrowski, CEO & Co-founder of oTMS is very excited to see Chen on board. "Our series A investors brought us necessary experience in software as a service and enterprise software sales skillset. Thanks to this we have been able to rapidly grow oTMS into a leading transport software provider in China and make an already good product great. The purpose of B round is to bring more internet and B2C DNA to the company to enable us to grow even faster".
oTMS rapid growth.
oTMS began operation in January 2013 and has been growing rapidly by focusing on the large and medium size retailers and manufacturers as well as transport and logistics providers.
oTMS' customer base includes fashion/lifestyle, clothing, retail, consumer products, automotive, industrial, third party logistics, such as industry leaders Bestseller, LVMH, LiNing, Kerry Willmar, Shanghai Pharma. As of the first half year of 2016 oTMS has helped to process over 12m shipments, an amount greater than shipments for all of 2015.
Currently over 500 companies have embraced the central oTMS idea to connect shippers, transport providers, drivers & consignees, on a single workflow, common language platform to achieve end to end transparency, drastically improve customer service experience and digitalize the supply chain.
Platform service innovation
Increasing user base and digital footprint created by daily shipment execution creates truly unique opportunities for oTMS to launch products that can redefine what is possible in this traditional and fragmented industry. This is a process of co-innovation with most forward looking customers who are keen to drastically improve their delivery capabilities and are not afraid to challenge the status quo.
Such projects/products are offered by oTMS on a strict double opt-in basis given the nature of B2B industry and perceived commercial sensitivity.
Examples include recently launched oSuper in-city fashion retail store pickup/delivery plaftform, an openRFQ transport e-procurement platform and oneInsurance transport insurance product.
The proceeds of B round will be used to further accelerate technical and commercial development of oTMS Platform.
oTMS aims to build the first successful business community based transport management & e-sourcing platform in China. With cloud computing and mobile internet technology, oTMS provides SaaS (software as a service) to users in order to seamlessly connect the shippers, logistics and transport providers, drivers and consignees to tender, execute, track and bill for transport services in an entirely digitalized, real time workflow to boost customer service experience at a much better cost. There are over 500 companies that use oTMS every day to manage their deliveries. For more information, please visit our website: www.otms.com.