Telegraph, a Chicago, IL-based SaaS supply chain & logistics technology startup developing a next-generation freight rail operating system, announced that it raised $10.1 million in Series A funding.
The round was led by Crosslink Capital, with participation from Slow Ventures, 9 Yards Capital, Motivate Venture Capital, and Extra Credit Ventures, as well as returning investors Construct Capital, 8VC, and BoxGroup.
The funds will be used for hiring across all roles to enable the expansion of the existing offering and the growth of new platform features and functionality.
"We are extremely fortunate to serve a transportation vertical that has been categorically overlooked. The past few years have been extremely challenging for global supply chains. Through it all, freight railroads never stopped working," says Harris Ligon, CEO of Telegraph and a former railroader. "This round of funding is for our customers and the industry. We're grateful for the support of our investors as we continue to build technology for the unaddressed needs of a transportation mode that is core to keeping our economy moving."
Since the company's seed funding, the Telegraph team has launched its suite of software products across railroads, logistics companies, and shippers in the United States, Mexico, and Canada.
To date, the company has saved customers thousands of hours of manual labor and millions of dollars in accessorial charges.
Company: Telegraph System, Inc.
Raised: $10.1M
Round: Series A
Funding Month: December 2022
Lead Investors: Crosslink Capital
Additional Investors: Slow Ventures, 9 Yards Capital, Motivate Venture Capital, Extra Credit Ventures, Construct Capital, 8VC, and BoxGroup
Company Website: https://telegraph.io/
Software Category: Freight Rail Operating System
About the Company: Founded in July 2020 by Harris Ligon, Amaro Luna, and Shachar Astor, Telegraph is a leader in cloud-based operating systems for railroads, shippers, logistics service providers, and railcar leasing companies. With an innovative platform that provides price transparency, shipment visibility, and proactive business intelligence, Telegraph empowers customers and makes shipping by rail easier and more effective. The Telegraph team is comprised of top-tier talent across tech, rail, and logistics domains, with employees from Uber, Outdoorsy, Microsoft, Bloomberg, Coyote, Norfolk Southern, and BNSF.
Source: https://www.prnewswire.com/news-releases/telegraph-a-leader-in-railway-logistics-announces-10m-in-series-a-funding-301695952.html