GoFreight, a Los Angeles and Taipei-based startup that provides all-in-one software for global freight forwarders, raised $23 million in Series A funding.
The round was co-led by Flex Capital and Headline, with participation from LFX Venture Partners, Palm Drive Capital, and returning investors Mucker Capital, Cornerstone Ventures, and Red Building Capital.
The new funding will be used to develop more features like smart quotations, rate management, and purchase order management.
GoFreight’s goal is to empower traditional freight forwarders to stay competitive with the same quality of technology that Flexport has.
“A freight forwarding business is about how to ship cargo from point A to point B. Software can really help, but that’s not their main business. The service itself is the main business and software cannot help minimize the shipping costs or get it there faster. But it can certainly help provide additional valuable information to customers, importers and exporters,” said, Trenton Chen co-founder and CEO of GoFreight, adding, “We try to empower incumbents to compete with Flexport. That’s an approach to make this entire industry better and faster.”
GoFreight, which currently has about 1,000 customers, helps manage the transportation of goods through the ocean, air, and land routes. It is currently working with partners to build a network that connects customers with freight forwarders, and freight forwarders with carriers.
Company: GoFreight Corp.
Raised: $23.0M
Round: Series A
Funding Month: November 2022
Lead Investors: Flex Capital and Headline
Additional Investors: LFX Venture Partners, Palm Drive Capital, Mucker Capital, Cornerstone Ventures, and Red Building Capital
Company Website: https://www.gofreight.com/
Software Category: Freight Management Software
About the Company: GoFreight is a modern, web-based Freight Forwarding Software as a Service (SaaS) designed for International Freight Forwarders and NVOCCs. GoFreight consolidates the complexities of running a freight forwarding business from quotation, to shipment booking, forwarding operation, security filing, visibility, customer-facing application, billing, accounting, finance, and processing payments -- all onto a single platform. GoFreight helps Its freight forwarder customers grow their revenue, scale their business, and streamline their entire operation with simple, easy-to-use software. GoFreight has helped freight forwarders of all sizes to digitalize their operation and process management, covering all shipping methods from sea to air to land.
Source: https://techcrunch.com/2022/11/13/gofreight-raises-28m-to-become-the-shopify-of-freight-forwarding/