NYSHEX Closes $25M in Series B Funding


NYSHEX, a New York-based provider of an ocean contract performance technology platform, raised $25M in Series B funding.

The round, which brought total funding to $69m, was led by Collate Capital, with participation from Blumberg Capital, Goldman Sachs and NewRoad Capital. In conjunction with the funding, Mark Weaver, Managing Director of Collate Capital, will join the board of directors.

The company intends to use the funds to accelerate the development of its technology platform.

Led by CEO Gordon Downes, NYSHEX provides shippers, carriers and NVOCCs with an integrated platform to manage global commerce. By bringing together multiple data systems across all parties, the platform provides a shared dashaboard for contract fulfillment and performance, improving contract performance, strengthening relationships, and reducing manual workload. The company has also recently introduced a product specifically for NVOCCs to monitor the performance and allocation of their customers in order to deliver on their agreements with their carrier partners. As part of the NYSHEX for Shippers solution, a new allocation management tool has been launched to allow shippers to proactively manage all of their ocean contracts in one central dashboard, enabling them to drive better performance across their entire contract portfolio. Additionally, the company is actively developing a payment and credit offering with strategic partners to further enhance the Powered by NYSHEX ecosystem; it is expected to be available in the coming months.

Over 190 BCOs, 130 NVOs, and 7 carriers across the globe are already using NYSHEX to power their ocean contracts, including PVH, Serena & Lily and Staples, as well as over 325 shippers.

The company has more than 120 employees across the globe.