Forto Company Profile

Background

Overview

Forto, established in 2016 as FreightHub, is a Berlin-based digital freight forwarder and supply chain solutions provider. The company specializes in digitizing logistics processes to enhance transparency, efficiency, and sustainability in global trade. Forto's platform offers end-to-end visibility, seamless communication, and real-time analytics for freight management. Serving over 2,500 clients, including leading manufacturers and e-commerce brands, Forto has expanded its presence across Europe and Asia.

Mission and Vision

Forto's mission is to build the backbone of global trade by providing transparent, frictionless, and sustainable digital supply chain solutions. The company's vision is to reshape logistics through technology, offering greater visibility, insight, and control to its customers.

Industry Significance

As a leading digital freight forwarder, Forto plays a pivotal role in modernizing the logistics industry. By leveraging technology to streamline supply chain processes, Forto addresses challenges such as inefficiencies, lack of transparency, and sustainability concerns, thereby contributing to the evolution of global trade practices.

Key Strategic Focus

Core Objectives

Digitalization of Supply Chains: Forto aims to transform traditional logistics by integrating digital solutions that enhance operational efficiency and data-driven decision-making.

Sustainability Initiatives: The company is committed to promoting sustainable practices within the logistics sector, offering carbon-offsetting options and striving for climate-positive transports.

Areas of Specialization

Freight Forwarding Services: Forto provides comprehensive freight forwarding solutions across sea, air, and rail transport, catering to diverse shipping needs.

Supply Chain Management: The company offers end-to-end supply chain management services, including booking, data management, document exchange, and proactive exception processing.

Key Technologies Utilized

Digital Platform: Forto's proprietary platform integrates various logistics functions, offering real-time tracking, data analytics, and seamless communication channels.

Data Analytics and Machine Learning: The company employs advanced data analytics and machine learning algorithms to optimize supply chain operations and predict potential disruptions.

Primary Markets Targeted

Forto primarily serves large and mid-sized businesses in manufacturing and e-commerce sectors, providing tailored logistics solutions to meet their specific supply chain requirements.

Financials and Funding

Funding History

Since its inception, Forto has secured substantial funding to support its growth and technological advancements:

Series A (December 2017): Raised $20 million, led by La Famiglia.

Series B (May 2019): Secured $30 million, with participation from Maersk Growth.

Series B (July 2020): Raised an additional $50 million, again led by Maersk Growth.

Series C (November 2020): Obtained €201.8 million from various investors.

Series D (June 2021): Secured $240 million, led by SoftBank Vision Fund 2, valuing the company at $1.2 billion.

Series D (March 2022): Raised an additional $250 million, bringing the total funding to over $600 million and increasing the valuation to $2.1 billion.

Utilization of Capital

The funds have been allocated towards:

Geographical Expansion: Establishing new offices in Europe and Asia to broaden market reach.

Technology Development: Enhancing the digital platform with advanced features and capabilities.

Sustainability Initiatives: Implementing programs aimed at reducing the carbon footprint of global trade.

Pipeline Development

Key Initiatives

Sustainability Programs: Forto has implemented the "1+1 Approach," where the company doubles the CO₂ compensation of every customer to move towards climate-positive transports.

Platform Enhancements: Continuous development of the digital platform to integrate new technologies and improve user experience.

Anticipated Milestones

Market Expansion: Plans to enter new markets in Poland, Belgium, Sweden, and Southern Europe in 2022.

Product Diversification: Introduction of additional services and features to meet evolving customer needs.

Technological Platform and Innovation

Proprietary Technologies

Digital Freight Management Platform: A centralized system that offers real-time tracking, data analytics, and seamless communication for efficient logistics management.

Significant Scientific Methods

Data Analytics: Utilizing advanced data analytics to optimize supply chain operations and predict potential disruptions.

Machine Learning Algorithms: Employing machine learning to enhance decision-making processes and improve operational efficiency.

Leadership Team

Executive Profiles

Michael Wax: CEO and Co-Founder. With a background in logistics and technology, Michael has been instrumental in Forto's growth and strategic direction.

Erik Muttersbach: CTO and Co-Founder. Erik brings expertise in technology development, overseeing the company's digital platform innovations.

Dr. Michael Ardelt: COO. Dr. Ardelt's experience in operations management contributes to Forto's efficient service delivery.

Recent Leadership Changes

Jochen Freese: Appointed Executive Vice President of Procurement and Business Development, bringing experience from his previous role as Chief Commercial and Marketing Officer at CEVA Logistics.

Competitor Profile

Market Insights and Dynamics

The digital freight forwarding market is experiencing significant growth, driven by the need for enhanced supply chain visibility and efficiency. The global market is expected to reach $2 billion by 2025, growing at a CAGR of 16.1%.

Competitor Analysis

Sennder: A digital road freight forwarder based in Germany, focusing on truckload transportation.

Loadsmart: A U.S.-based company offering digital freight matching and optimization services.

Transporeon: A European platform providing supply chain management solutions, including freight procurement and transport execution.

Strategic Collaborations and Partnerships

Forto has established partnerships with various investors and industry leaders to enhance its technological capabilities and market presence. Notable investors include SoftBank Vision Fund 2, Citi Ventures, G Squared, Northzone, Unbound, and A.P. Moller Holding.

Operational Insights

Forto's competitive advantages include its comprehensive digital platform, commitment to sustainability, and strategic global expansion. The company's focus on technology-driven solutions positions it favorably in the evolving logistics landscape.

Strategic Opportunities and Future Directions

Strategic Roadmap

Geographical Expansion: Entering new markets in Europe and Asia to broaden customer base.

Product Innovation: Developing new services and features to meet the evolving needs of the logistics industry.

Sustainability Leadership: Continuing to implement and promote sustainable practices within the supply chain.

Future Business Directions

Forto aims to solidify its position as a leader in digital freight forwarding by expanding its global footprint, enhancing its technological offerings, and driving sustainability initiatives.