Expedock, a San Francisco, CA-based leading innovator in the international freight software industry, announced that it raised $13.5 million in Series A funding, bringing Expedock's total raised to $18 million.
The round was led by Insight Partners, with participation from VMG Catalyst as well as existing investors Pear and Neo and executives from Project 44, Salesforce, Meta, eBay, and Clearmetal.
The round, which follows on the heels of the company's $4 million seed and 12x growth in 2021, will be used to expand Expedock's team to allow supply chain businesses to more efficiently understand and operationalize their data at scale.
Connor Guess, Senior Associate at Insight Partners is joining Expedock's Board of Directors.
Company: Expedock Software Inc.
Raised: $13.5M
Round: Series A
Funding Month: Aug 2022
Lead Investors: Insight Partners
Additional Investors: VMG Catalyst, Pear, and Neo and executives from Project 44, Salesforce, Meta, eBay, and Clearmetal
Company Website: https://www.expedock.com/
Software Category: AI-powered automation service
About the Company: Expedock is the AI-powered automation service behind some of the leading players in the global supply chain. Expedock uses AI to transform paper documents into data, quickly classify them, and bring them into existing freight forwarder tools. The automation of invoices and statement of accounts, including their entry, reconciliation, and posting, ensure on-time payment to vendors while also bringing accurate visibility to margins when billing shippers. Expedock’s mission is to build the data infrastructure that will drive unprecedented efficiency and profitability for all players in the industry. Expedock works with some of the largest brands in the global supply chain, including Wayfair, ClearFreight, JUSDA, and Ascent, a subsidiary of Roadrunner Freight. The company is also supported by ZEBOX, CMA CGM's technology accelerator which helps cutting-edge technologies roll out within the organization.
Source: https://www.prnewswire.com/news-releases/expedock-raises-13-5m-series-a-led-by-insight-partners-to-solve-and-accelerate-the-global-supply-chain-301601828.html