When I think back to 2017 and the creation of OVRSEA, I think of how international transport has transformed over the last few years. Such a short period of time, and yet it feels like an eternity.
In five years, there has been no shortage of change. Despite experiencing a deep recomposition of our market, OVRSEA has kept its promise of becoming a leading digital player with a global reach.
In 2017, we were five co-founders in the HEC incubator at Station F (Paris). Five entrepreneurs willing to take on the colossal freight transport market, more than 80% of which was maritime and would reach $18.9 trillion in 2019, but which also accounted for 7% of global carbon emissions. We already knew that the sector had no choice but to reinvent itself to reduce its environmental footprint.
Change was already in the air. In 2015, the major shipping companies were embarking on impressive consolidation movements. In just three years, the number of global shipping companies was cut in half to 10 and the number of alliances dropped from four to three. Simultaneously, the arrival of new mega-container ships altered the nature of flows and carriers' strategies. As for air freight, it was already showing a strong growth perspective.
On our end, we were convinced that international freight had to make up for lost time regarding digitalization. Shippers were asking for more visibility and flexibility than ever before, and we were at a point where technology could provide it. At OVRSEA, we were among the pioneers, new players determined to transform this industry.
From the start, we had global, technological, and societal ambitions.
Our project could only become a reality on three conditions: within an international scope, thanks to the anchoring of technology and innovation at the heart of the transformation, but also by cultivating social responsibility. We wanted to develop an authentic culture of fulfillment and meaning in the workplace, and build a new way to support our customers in the transition to low-carbon transport.
In 2018, OVRSEA took its first steps into the market.
We gained the trust of our first customers and recruited key talent in our tech, operations, and sales teams. By the end of our first year, we were a team of 12 and finally felt we had been dealt the right cards to succeed.
The following year confirmed our intuitions. In 2019, we raised €1.9 million, left our incubator, and added 10 more talents. By December, we had more than 200 customers across 50 countries! Little did we know, a storm was brewing, and the transportation sector was experiencing its last moments of tranquility and low pricing. After all, during this pre-Covid era shipping, a 40' container from China to Europe cost less than 2,000 USD…
And then came the earthquake that was COVID-19
Like everyone else, we had to rethink, adapt, and reinvent in order to continue helping our customers through the uncertainty. When transportation and the global economy froze in March 2020, our teams were already prepared to work remotely. It was an all-hands-on-deck moment as our role as a digital freight forwarder became even more crucial in the midst of the crisis. All the usual reference points were shattered, and shipping companies and airlines changed their routes and schedules. In addition, shipments of masks and sanitary products had to be organized!
Amidst the fog of the pandemic, we developed new strategic channels in order to provide our customers with field updates from our contacts around the world. Never before had the need to access reliable data been so necessary. That's when we came up with the idea of launching our now indispensable weekly newsletter: The Merchant, a short publication dedicated to operational transport news. It was an immediate success, as the need for reliable information was critical. Once we realized the disruptions in international transport were here to stay, we turned it into a permanent newsletter.
C’est dans la crise qu’OVRSEA a acquis sa culture de la réactivité, atout qui s’est avéré déterminant face à tous les soubresauts à venir du commerce mondial. En 2020, nous avons convaincu plus de 400 clients.
We then entered the era of economic overheating and shortages
The year 2021 saw imports explode, flow imbalances worsen, port congestion become widespread, and rates reach astronomical levels. 2021 was an extraordinary year marked by unprecedented events such as the Suez Canal blockage and the closure of Yantian Terminal in China. Once again, our tools and teams proved their relevance: we were able to notify and guide our most impacted customers in real-time.
We also witnessed the rise of rail freight between Asia and Europe. The New Silk Road had finally become a reliable alternative to ocean and air routes, opening new opportunities for transcontinental freight.
At OVRSEA, we reached new heights. In January, we decided to join the Bolloré group. It was an alliance of conviction and a warm welcome. We would remain an independent start-up in our operations and culture, while benefiting from the group’s strength and network. The months that followed validated the incredible potential of this synergy. Thanks to our incredible growth, we moved into a new office in Montmartre in March, symbolizing our roots in France but with an eye on the world.
550 customers, 80 employees, and a fourfold increase in sales: we could dream big.
In 2022, our internationalization accelerated as planned. OVRSEA opened offices in Spain, the United States and Italy. The Merchant, now published in four languages, passed the 5,000-subscriber mark. In April, we celebrated the "OVR100" by welcoming our 100th employee. We are now more than 150 people on two continents, but we feel the same energy as when we started.
We are so proud of how far we have come
Today, the transportation world is facing a new storm. The economic slowdown and geopolitical tensions are clouding the horizon. Now more than ever, we are guided by the trust our 700 clients place in us. It attests to the importance of our approach and solutions.
In light of the current environmental and energy crisis, the transport industry must finally accept its responsibilities. Here too, our customers are expecting us to act. Our teams and tools are ready: on the OVRSEA platform, shippers can already measure the impact of each shipment and take concrete action to reduce it —mainly through modal shifts. Our teams are on their side to advise them. There is no more time to lose.
Who knows what the next five years will bring?
What is certain is that OVRSEA will continue to innovate and grow, to be ever more useful to shippers. Our path is clear:
Our ambition is to become a global leader, delivering operational excellence and quality of service, both technical and human, around the world.
Our DNA is digital, and we will continue to invest in our technology. Our platform will become more robust and automated to increase the value it adds to all of our customers.
We are committed to reducing our direct and indirect carbon emissions by 20% by 2030, as part of the Net Zero Initiative. We will deliver.
To attract the best people and retain our talent, we will continue to build a unique working environment where everyone can grow, learn, and build their career path in line with their aspirations in a healthy, diverse, and inclusive environment.
Forza OVRSEA!
Arthur Barillas, CEO
