GoodShip, a Nashville, TN-based collaborative cloud-based analytics and transportation procurement platform for shippers, announced that it raised $5 million in seed funding, bringing its total funding to $7.4 million.

The round was co-led by Ironspring Ventures and Chicago Ventures, with continued participation from FUSE VC and Cercano Management. 

The round builds upon previous or continuing investments from the founders and executives of several industry-leading tech companies including FreightWaves founder Craig Fuller, Project44 founder Jett McCandless, Convoy founder Dan Lewis, and Stord founder Sean Henry, among others. 

GoodShip will use the funds to accelerate the development of new bid management features, refine and expand its AI-powered smart recommendation engine, and scale go-to-market efforts for mid-market and enterprise shippers.

“Modern supply chains generate vast amounts of data, but so much of that data is inaccessible and underutilized, limiting shippers’ ability to respond swiftly and effectively when market rates shift or carrier performance deteriorates,” said Ryan Soskin, co-founder and CEO of GoodShip. “GoodShip is the command center that unifies data from each customer’s tech ecosystem — TMS (transportation management system) tender data, contract award data, location data—and enriches it with real-time pricing from partners like FreightWaves SONAR, then provides the tools to make that information instantly actionable directly from the platform. Service and price are both optimized in a systematic, data-driven way that also enhances collaboration with carriers by establishing clear expectations and a real-time scorecard for ongoing alignment.”

Company: GoodShip, Inc.

Raised: $5.0M

Round: Seed Round

Funding Month: May 2023

Lead Investors: Ironspring Ventures and Chicago Ventures

Additional Investors: FUSE VC, Cercano Management, Craig Fuller, Jett McCandless, Dan Lewis, and Sean Henry

Company Website: https://goodship.io/

Software Category: Logistics Software

About the Company: Founded in 2022, GoodShip is a Tennessee-based company that provides a cloud-based platform for collaboration that automates labor-intensive procurement processes. The company offers solutions such as procurement management and data analytics for businesses and also provides AI-powered insights, automated reports, scorecards, and more. Through GoodShip’s platform, carriers and shippers can see metrics including lane volume, loads to date, total revenue, tender acceptance rates, and pickup and delivery appointment on-time percentage.

Source: https://www.businesswire.com/news/home/20230504005097/en/Freight-Tech-Startup-GoodShip-Raises-5M-Seed-Round-Co-Led-by-Ironspring-Ventures-and-Chicago-Ventures-to-Bring-Enriched-Analytics-and-Actionability-to-Transportation-Procurement