Freightify Technologies Pte. Ltd.

Freightify Technologies Pte. Ltd. , based in Singapore, provides innovative online freight rate management solutions that simplify freight price procurement, management, and quotation for logistics companies globally. Freightify Technologies was founded in 2016 in Singapore.

The company specializes in freight rate management, offering solutions that optimize logistics operations for a diverse range of clients, including freight forwarders and shipping lines. The founder, Raghav Viswanathan, has a background in logistics technology, having previously established other ventures in this domain. Freightify has secured a total of 7 funding deals, with the latest round being a Series A in October 2023, where it raised USD 12. 15 mn led by Peak XV Partners and including participation from investors like Alteria Capital and Motion Ventures.

The company’s total amount raised amounts to USD 12. 15 mn, with a current valuation of USD 47. 615 mn. Freightify specializes in providing online freight rate management solutions aimed at streamlining the procurement, management, and quotation processes for freight pricing.

Their platform integrates with various Transportation Management Systems (TMS), empowering users to access a unified interface for freight rates, quotes, and schedules. Key features include real-time visibility into shipping rates from multiple carriers, rapid quote generation, and a customizable customer portal for freight forwarders. Their services address inefficiencies in the logistics sector, optimizing operations for clients across more than 45 countries, including North America, Europe, and Asia. In 2023, Freightify reported a revenue of USD 466,943, with an EBITDA of USD -3,794,554.

The company's revenue model relies on subscription-based partnerships that provide clients with access to various features and tools for efficient rate management and quotation processes. This structure generates recurring revenue as clients need Freightify's services for their daily operations, benefiting from improved speed and efficiency in booking and transaction management. In October 2023, Freightify raised USD 12. 15 mn in Series A funding, with plans to utilize the capital to enhance its product offerings and expand its global sales presence.

The company is focusing on launching new features aimed at improving user experience and exploring new markets, with specific attention to regions in Asia and Europe by mid-2024. This strategic expansion aims to bolster Freightify's customer base and enhance market penetration.