SaaS startup Freightify has raised $12 million in a Series A funding round led by Sequoia Capital India.
TMV and Alteria Capital, with existing investors Nordic Eye Venture Capital and Motion Ventures participated in the current funding round.
The fresh funds will be deployed for product development, geographical expansion, hiring, sales expansion, and brand building.
“We are building out a marketing function that can drive growth as we expand to geographies across the globe,” said Raghavendran Viswanathan, founder and chief executive officer, Freightify.
Founded in 2016 by Viswanathan, Freightify initially started as a marketplace for freight forwarders to search, book and track freight. Subsequently, the company developed a SaaS platform that allows freight forwarders to procure, manage and quote freight prices
In 2021, it had raised $2.5 million in a pre-Series A funding round led by Nordic Eye Venture Capital and has cumulatively raised $14.5 million so far.
Freightify claims to have around 200 freight forwarding companies as part of its customer base and a geographical presence across Europe, Australia and key regions in Asia Pacific.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.