Navix today announced the completion of a $5 million seed funding round led by several angel and strategic industry investors. The new funds will be used to fuel growth by investing in product development and expanding its customer success and onboarding teams.
Increased overall efficiencies will enable Navix to provide an even better customer experience, more value to its customers, and expand product features and functionality in the future.
This funding comes at a time when Navix is gaining traction among mid-market and large enterprise logistics companies. Navix, which was founded in 2021, is used by many high-profile, highly successful companies, including Evans Transportation, SunTerra Logistics, and Armstrong Transport Group.
The logistics industry has seen unprecedented growth in recent years, and companies are looking for ways to maintain their profit margins. Accelerating cash conversion cycles by streamlining internal processes is one obvious area of focus. The amount of billable revenue lost as a result of exceptions and errors is astounding.
The way these discrepancies slow down the billing process is equally astounding. Rather than simply responding to exceptions and errors, Navix employs AI and machine learning to eliminate them.
Navix is a cutting-edge Software-as-a-Service platform that automates document retrieval and freight auditing. Navix enables 3PLs and brokers to scale up their process automation, increasing their cash conversion cycle and providing better insights into their freight spend and discrepancies.
Navix boosts profitability with highly configurable automation triggers, an API-first approach for seamless integrations, AI/ML-powered insights, and white-glove auditing services.
