Sequoia Capital India backs Freightifys vertical SaaS platform for freight forwarders

News Summary

  • Freightify’s rate management and quoting features means freight forwarders can procure and quote freight prices in less than two minutes, including possible ancillary changes.Freightify is currently post-revenue and its pricing packages are pay-per-use.
  • The company refers to itself as the “Shopify for maritime freight” because it provides white-label rate management and e-booking tools for freight forwarders to set up online stores.
  • For freight forwarders, procuring pricing data for their customers usually involves going to multiple sources, and then consolidating information into spreadsheets.
  • Gathering freight rates usually involves sending multiple emails, looking at PDF documents, filling spreadsheets and keeping browser tabs with pricing data open.
  • Freightify is now used by more than 200 freight forwarding companies in 45 countries, and says its revenue has tripled over the last year.
  • Freightify wants to make the process as simple as comparing airfare with its vertical SaaS platform.The Singapore-based startup announced today it has raised a $12 million Series A led by Sequoia Capital India, with participation from Trail Mix Ventures and Alteria Capital.
For freight forwarders, procuring pricing data for their customers usually involves going to multiple sources, and then consolidating information into spreadsheets. Thats timeconsuming and complicat [+2652 chars]