Parade, a San Francisco, CA-based provider of carrier access and truckload capacity management platform software for freight brokers, raised $12.7 million in Series A funding.
The round was led by Menlo Ventures, with participation from Greenhawk Capital, Jones Capital, Jones Capital, The House Fund, Oriza Ventures, and leaders in supply chain & freight tech leaders.
The company intends to use the funds to accelerate digital adoption, expand capabilities, grow its team, and strengthen connectivity with its third-party partner ecosystem.
Company: Dray Technologies Inc.
Round: Series A
Funding Month: February 2022
Lead Investors: Menlo Ventures
Additional Investors: Greenhawk Capital, Jones Capital, Jones Capital, The House Fund, and Oriza Ventures
Company Website: https://parade.ai/
Software Category: AI-enabled Truckload Capacity Management Platform.
About the Company: Founded in 2015 by Preet Sivia, Anthony Sutardja, and Tony Wu, Parade enables any freight brokerage to go digital by providing tools and infrastructure. Broker customers find and book trucks online using its AI-enabled Truckload Capacity Management Platform. Over the past year, Parade has brought to market its core product: Capacity Management for freight brokers. The platform works by layering on top of a freight broker’s existing systems, such as its Transportation Management System (TMS), to charge a freight broker’s capabilities to find availability of trucks, digitally transact loads, and grow business. Customers include major freight brokerages like Armstrong Transport Group, Schneider, and Worldwide Express.