ShipIn Systems becomes maritime technology’s first Public Benefit Corporation

ShipIn Systems, a maritime technology company, has become the first of its kind to transition to a Public Benefit Corporation (PBC) structure. This move solidifies the company's commitment to fostering a safer, more resilient global shipping industry through responsible and intelligent technologies.

The unanimous decision by ShipIn's Board of Directors to become a PBC means that the company's growth will now be tied to a mission of enhancing safety, wellbeing, and operational resilience for the maritime industry. This purpose is now formally embedded in the company's charter, under the heading: "To enhance safety, wellbeing, and operational resilience across the global maritime industry through responsible, transparent, and intelligent technologies that protect crew, vessels, and cargo."

Maritime shipping is responsible for 90% of global trade, and ShipIn believes that technology companies serving this sector have a broader responsibility that extends beyond just the technology itself. The PBC structure ties commercial success and measurable benefits to the wellbeing of those operating at sea.

As Founder and CEO Osher Perry explained, "We are seafarers building AI tools for seafarers." The mission has always been about more than just creating a successful technology company; it's about ensuring the safety of seafarers and making fleets safer and more productive. Perry is proud that the Board unanimously agreed to bind ShipIn to this mission as the company grows.

ShipIn will now annually report on its performance against its public benefit purpose, introducing accountability around the mission now officially part of its corporate structure. The transition to PBC status occurred weeks after ShipIn announced a $52 million Series B financing round to accelerate the development and global expansion of its AI-powered operational intelligence platform.

Currently, ShipIn collaborates with over 90 shipowners aboard 1,300 vessels, and has analyzed more than 2.5 billion hours of vessel operations. Effective immediately, the company will operate as ShipIn Systems, PBC.