Los Angeles and Taipei-based GoFreight has raised $23 million in Series A funding led by Flex Capital and Headline. LFX Venture Partners, Palm Drive Capital, and returning investors Mucker Capital, Cornerstone Ventures, and Red Building Capital also participated in the round.
The additional cash will be used to create new features such as smart quoting, rate management, and purchase order management.
GoFreight, which presently serves over 1,000 customers, assists in the management of commodities transit by ocean, air, and land routes. It also allows them to create online stores with a few clicks. Potential consumers can contact freight forwarders by making an enquiry through the storefront and receiving a quotation within a few minutes, rather than the normal 24 to 48 hours.
Once a freight forwarding project is underway, shipments may be traced using an EDI-integrated, real-time tool, so freight forwarders and clients know where their shipping containers are at all times. Tracking software also links with accounting capabilities on GoFreight’s platform, allowing users to see how cargo performance affects their earnings.