Australian logistics scaleup Shippit has announced the acquisition of last mile technology firm Premonition for an undisclosed amount to help the Sydney-based company take advantage of the online shopping boom.
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.
Premonition counts Couriers Please, Fastway Blu and DeliverE as customers, and powered more than 40 million deliveries country wide last year, with 3,000 drivers using the application every day.
For Shippit, the acquisition comes just over a week after announcing its latest deal with deliveries and ride-share giant 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,” Shippit co-CEO Will On said.
“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.
“Together, Shippit and Premonition will empower carriers to improve efficiencies in how they operate by up to 30 per cent. This, in turn, will improve delivery experiences for our online retailers and their customers.”
Premonition co-CEO Brad Lorge said the combination of the two companies will bring the operations of both retailers and carriers closer together to power better delivery experiences.
“We have a unique opportunity to rethink how logistics providers can operate in response to the unprecedented demand for eCommerce,” Premonition co-CEO Brad Lorge said.
“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.”
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