Logixboard Secures $13M for Modern Freight
May 10, 2021
closed a $13M investment led by Redpoint Ventures, with continued participation
from Social Leverage, F-Prime Capital, Founders Co-op, Techstars Ventures, and
Freight forwarders that handle the logistics of shipping trillions of dollars
worth of the most high-cost, stakes, and volume goods such as vaccines, medical
supplies, and machinery parts, have long lacked a modern digital platform for
managing their customer's experience.
Logixboard's platform allows freight forwarders to offer the same digital
experience and level of shipment transparency to their customers that they have
become accustomed to from consumer shipment trackers offered by the likes of
Amazon, Wayfair, and Chewy. Without the help of solutions like Logixboard
freight forwarding customers are forced to hunt down updates via text, email, or
phone calls. Additionally, freight forwarders are experiencing an uptick in
request for proposals (RFP) that specify the need for a digital platform for
managing their shipments.
Over 80% of commercial shippers expect online shipping visibility to be a
primary function offered by their freight forwarder so they can more accurately
make supply chain decisions and streamline stakeholder communications.
"Logixboard has been an amazing partner in helping us transform our internal
digitization into a world-class customer experience. It is creating modern,
effortless experiences for both our internal services teams and external
customers," said Jason Steinke, EVP, of Rim logistics. "Since officially
launching in March, the Logixboard team and product have been an integral part
of helping us continue our year-on-year growth trend, while allowing us to reach
a broader and larger customer base. RIM is beyond excited to continue our
partnership with Logixboard. The future path together is only going to allow for
greater growth and innovation."
"We're thrilled about this most recent raise because it means we can continue
innovating our platform to the benefit of our customers, who oftentimes see an
increase in millions of dollars worth of revenue just a couple of months after
implementing our platform," said Julian Alvarez, CEO and co-founder of
Logixboard. "Over the past 12 months we've seen a 14 times growth increase in
users and we're hoping for that number to grow as we expand our product
its commitment to becoming the industry standard for an all-in-one customer
experience management platform for freight forwarders, Logixboard just recently
launched its ETA feature to help offer more transparency into estimated time of
arrival variances. The company also plans to use the new funding to continue
building additional integrations and products that will offer increased
stakeholder communication and real-time visibility, as well as new functions
such as in-platform quoting and bookings.
"In the past year following the initial COVID-19 lockdown US freight imports
soared to record highs, which has caused strain on many facets of the logistics
and supply chain industry and an increase in competition among freight
forwarders," said Annie Kadavy, Managing Director at Redpoint Ventures. "These
forwarding agents are feeling the pressure to offer more transparent, tech-based
customer experiences, so we're excited about the opportunity for Logixboard to
help solve this global problem."