London-headquartered energy and shipping analytics platform Vortexa has tapped private equity to raise $34m in fresh capital to speed up technology growth and the company’s expansion into new international markets.
Investment funds managed by Morgan Stanley Expansion Capital spearheaded the funding, with existing investors Notion Capital, Monashees, Metaplanet, FJ Labs and Communitas Capital also taking part.
Vortexa tracks more than $1.8trn of waterborne energy trades per year, covering crude oil, products, LPG and LNG, across all vessel classes.
Commenting on the investment, Fabio Kuhn, chief executive of Vortexa, said: “Despite one of the toughest fundraising environments for tech companies in the recent past, this funding round was
significantly oversubscribed. Vortexa has doubled its valuation since its Series B funding round in
2021 and, having grown three times faster than the median SaaS business over the last year, is
near profitability with an immense untapped market opportunity ahead.”
The investment takes the total amount raised by Vortexa to more than $60m since its inception in 2016.
“Vortexa has demonstrated impressive growth and capital efficiency since inception, and we are excited to partner with Fabio and his outstanding team to help take Vortexa to the next level,” said Lincoln Isetta, managing director of Morgan Stanley Expansion Capital, adding: “The increasing complexity of international energy and freight markets is accelerating customer demands for high quality, real-time data and analytics. Many of the world’s largest and most sophisticated energy and freight market participants trust Vortexa to drive high-impact business decisions and we believe Vortexa is at the forefront of technological leadership in those markets.”
