Evangelos Efstathiou has closed a Series A funding round and completed the acquisition of Burmester & Vogel, a proven leader in freight software for laytime and demurrage since 1983. As of this week, Efstathiou has taken over ownership and day-to-day operations of the business.  

“Over the past year, it has been my privilege to work closely with Wieland Burmester and plan for the evolution of the company, with a particular focus on how to build on B&V’s proven, simple and intuitive demurrage calculator which has served customers with a single purpose: Software you can count on,” says Efstathiou.

“As someone who has spent my entire career in the maritime industry, it is an honor to lead a company with such a long history, stellar reputation, and adoption by 1,000+ loyal clients representing leading companies in over 100 countries around the world. I am also thankful for the support of my family and investors, and am especially grateful that Mr. Burmester will continue as an advisor and shareholder.”

Since graduating from MIT in 2000 Efstathiou has been an entrepreneur at the intersection of digitalization, capital markets, and maritime transportation and logistics. Before joining B&V, he was the founder and CEO of Skysail Advisors, a firm providing maritime strategy, technology, and analytics consulting services. Prior to that, he held senior positions at Marsoft, Veson Nautical, SpecTec, and Chinsay.

“We have already begun investing in product management and development resources and have expanded the company’s global account management and support team. The opportunity to build analytics, cloud, and mobile solutions driven by insight - and combined with our proven, trusted solutions - will accelerate the transformation of our entire industry,” says Efstathiou.  

“As B&V’s new CEO, I’m excited for our team to share our combined knowledge, resources, and industry presence to help our clients unlock new value streams and find new ways to grow. In the coming weeks, I will share more details on our vision and plans. Please reach out to me with your specific needs and goals. I look forward to an exciting and productive 2020 for all of us.”

The above press release was first published by The Maritime Executive.