SAN FRANCISCO, Jan. 19, 2023 /PRNewswire/ — Terminal49, the leading ocean freight visibility platform, announced today that they have secured $6.5m in Series A funding led by Stage 2 Capital and co-lead by Grand Venture Partners, with follow-on participation from seed stage investors leading to a total funding of $8.7m.
“We are excited to support Akshay and Terminal49 on their journey to automate global trade,” said Dan Heck, Partner at Stage 2 Capital and Terminal49 Board Member, “They have built a product that customers value, and that hundreds of organizations rely on to manage ever-increasing complexity and costs within their global supply chains.”
Automating Container TrackingTerminal49’s API pulls in real-time ocean shipment and container data from shipping lines and terminals, standardizing the data into a centralized and searchable dashboard. The data is also accessible via a push-based API. Rather than searching across dozens of websites and manually managing container milestones in spreadsheets, Terminal49 customers have instant access to up-to-date container statuses, helping them more quickly identify containers at risk and make cost-saving decisions faster.
“Our global supply chain systems are antiquated and their inefficiencies play out on a grand scale,” says Parul Singh, partner at Initialized. “We invested in Terminal49 because of the opportunity and need to transform global trade to work better, especially in economic times like these.”
Terminal49 is tracking over a million containers for hundreds of customers worldwide including Wayfair, Hillebrand, and Mazda USA. Customers rely on Terminal49’s dashboard and API data to track, manage, and optimize ocean freight operations, saving them hundreds of hours (each week) in manual tracking and thousands of dollars in demurrage and per-diem fees.
Eliminating Thousands in Fees”Terminal49 has made our team more efficient and productive,” said Spencer Strader, co-founder and CEO of Trade XCelerators. “We now have access to accurate ocean freight information in one place, which lets us proactively share reliable information with our customers and vendors. Terminal49’s automation has saved us thousands of dollars a year, but more importantly it’s helped improve customer trust.”
Covering 98% of All Ocean Freight TrafficTerminal49 integrates with every major ocean carrier and all US and Canadian terminals, and recently added Southampton and London Gateway terminals. The data collected from these integrations covers 98% of all global ocean freight and container traffic.
“We’re thrilled to have Stage 2 Capital and Grand Venture Partners on this journey with us to improve global trade visibility and automation,” said Aksha Dodeja, founder and CEO of Terminal49. “We’ve solved a cumbersome and unreliable process for companies who need to track ocean freight traffic by standardizing data and making it accessible through a single view. But that’s just the beginning. With our recent round of funding, we’re one step closer to automating the tedious work behind global trade.”
For more information about Terminal49, please visit www.terminal49.com.
Terminal49 raised their seed round (2017) from Initialized Capital, Afore Capital, Liquid2 Capital, Immad Akhud (Mercury CEO), James Tamplin (Firebase CEO), and Kyle Vogt (Cruise CEO).
SOURCE Terminal49, Inc
