Expedock, a San Francisco, CA-based international freight software provider, raised $13.5m in Series A funding.
The round, which brought the total amount raised to $18m, was led by Insight Partners, with participation from VMG Catalyst as well as existing investors Pear and Neo and executives from Project 44, Salesforce, Meta, eBay, and Clearmetal.
The company intends to use the funds to expand its team to allow supply chain businesses to more understand and operationalize their data at scale.
Expedock uses AI to transform paper documents into data, quickly classify them, and bring them into existing freight forwarder tools. The automation of invoices and statement of accounts, including their entry, reconciliation and posting, ensures on-time payment to vendors while also bringing accurate visibility to margins when billing shippers. Rather than spending half the day manually reviewing paperwork, supply chain experts can now focus on moving goods. The right automation partner will drive efficiency and profitability, reduce labor costs and keep up with today’s global shipper.
Led by King Alandy Dy, CEO, Expedock provides an AI-powered automation service that enables players in the global supply chain to move tens of thousands of freight containers every week through technology that eliminates inefficiencies by automating the manual processes and connects all physical and digital data sources into one platform.
The company works with some of the largest brands in the global supply chain, including Wayfair, ClearFreight, JUSDA, and Ascent, a subsidiary of Roadrunner Freight.
FinSMEs
10/08/2022