Frayt, a Cincinnati, OH-based provider of a delivery and logistics platform, raised $7M in Series A funding.
The round was led by Refinery Ventures with participation from Capital Midwest, Venture 53, and the JobsOhio Growth Capital Fund.
The company intends to use the funds to drive product innovation, support rapid market expansion and grow its team.
Led by CEO Luke Denny, Frayt is a delivery and logistics technology company that offers businesses professional, on-demand shipping through a web platform and mobile app. The company provides an on-demand SaaS delivery platform, enabling companies to offer scheduled or same-day delivery from their desktop, mobile devices or API integration. The platform connects shippers with professional drivers in minutes. Once a request is posted to the marketplace, and a driver accepts the dispatch, the delivery is tracked in real time from pick up to drop off for complete visibility from start to finish. FRAYT has over 12,000 drivers across 50+ markets and over 300 customers, including Fortune 500 customers Bridgestone, Sherwin-Williams, The Tile Shop, and Cargill.
FinSMEs
11/04/2023