Freight rate benchmarking and analytics platform Xeneta has raised $80 million in a fund-raising round led by equity-backed firm Apax Digital.

The Oslo-based startup said the injection of new funds now meant it was valued at $265 million. The company will use the funds to accelerate investments in platform development and to grow its global team as it looks to expand into new markets.

Xeneta’s reporting and analytics platform provides shipping and air cargo stakeholders the data to understand current and historical market behaviour, reporting live on market average and low/high movements for both spot and long-term contracts.

The platform provides data and insights on capacity, reliability, blank sailings, detention and demurrage, dynamic load factor, and emissions data.

So far, Xeneta’s data comprises more than 300 million contracted container and air freight rates and covers more than 160,000 global trade routes. Its current customer portfolio includes Electrolux, Unilever, Nestle, Zebra Technologies, Thyssenkrupp, Volvo, General Mills, Procter & Gamble, and John Deere.