News: Sydney-based Shippit acquires SaaS platform Premonition

Startups

Sydney-based Shippit acquires SaaS platform Premonition

In 2021, Premonition powered over 40 million deliveries across the country, with 3,000 drivers using the application every day. Shippit is looking to leverage the platform to capitalise on the online shopping boom.
Sydney-based Shippit acquires SaaS platform Premonition

Shippit, Sydney-based logistics scaleup has announced the acquisition of last mile technology firm Premonition for an undisclosed amount.

The announcement comes just a little over a week after the logistics startup announced partnering with Uber to make same-hour deliveries for retailers possible.

“We couldn’t be more excited to have Premonition as part of the Shippit Group. Over the past two and half years we have witnessed an unprecedented shift to online shopping, which has created an overwhelming demand for last-mile logistics providers,” said Shippit co-CEO Will On.

“COVID was a turning point for retailers and Shippit alike. We realised that we can better leverage data-driven tracking insights from our retailers to improve delivery experiences. With greater parcel visibility and multi-carrier connectivity, we can gain clarity on where to increase efficiencies so our retailers and carriers can reduce waste, overall carbon emissions, and costs.”

Co-founded by Brad Lorge, Matthew Moss and Kenneth Wong in 2017, Premonition is a Software as a Service (SaaS) platform that helps enterprise logistics fleets to optimise and operate their transport network.

In 2021, Premonition powered over 40 million deliveries across the country, with 3,000 drivers using the application every day. Shippit is looking to leverage the platform to capitalise on the online shopping boom.

“Together, Shippit and Premonition will empower carriers to improve efficiencies in how they operate by up to 30%. This, in turn, will improve delivery experiences for our online retailers and their customers,” Will added.

Thrilled about the opportunities that lie ahead, Premonition Co-CEO Brad Lorge is looking forward to how the two companies will power better delivery experiences.

“We have a unique opportunity to rethink how logistics providers can operate in response to the unprecedented demand for eCommerce. Shippit and Premonition are uniquely placed to lead the eCommerce delivery revolution for carriers and retailers alike. Our new home at Shippit means we can continue our mission of making carriers’ lives easier and delivering meaningful innovation,” Lorge said.

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Topics: Startups, #MergersAndAcquisitions

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