Sequoia, Others Invest $12 M In SaaS Startup Freightify


Singapore-based freight rate management SaaS platform Freightify announced on Thursday that it had raised USD 12 million in an early-stage funding round led by Sequoia Capital India. The round also saw the participation of TMV and Alteria Capital as well as returning investors Blume Ventures, Nordic Eye Venture Capital and Motion Ventures.

The company plans to use the fresh funds to strengthen product offerings and add new functionalities, expand its sales presence globally, build channel partnerships and strengthen marketing to drive growth and expand into new geographies and segments. It also plans to hire across geographies, especially Chennai.

Freightify had previously raised USD 2.5 million in funding, bringing the total capital raised by the startup to USD 14.5 million so far. The company makes software that serves freight operators with their requirements of white-labeled customer portals, tracking and tracing of shipments in real-time and integration with existing transportation management systems.

The platform allows any forwarder to create a digital storefront to serve their customers. Other services include tracking and tracing solutions that help freight forwarders in getting live locations of vessels and automated milestones within seconds.

Founded in 2016 by Raghavendran Viswanathan, Freightify claims to be expanding rapidly across Europe, Australia and key regions in Asia Pacific and North America.

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