Freight transportation software vendor Alvys has raised $20.5 million in venture capital funding, saying it will use the money to accelerate its development efforts and to recruit top talent to solve complex issues within the industry.
Solana Beach, California-based Alvys says its “logistics operating platform” addresses inefficiencies in current systems, making life better for everyone in the supply chain ecosystem. The logistics operating platform offers a modern, cloud-based solution that allows for optimized workflows and hundreds of integrations, eliminating personal data silos and providing a comprehensive suite of integrated modules for seamless logistics management, the firm says.
The “series A” funding round was led by Titanium Ventures (formerly Telstra Ventures), with new investor Picus Capital and existing investors RTP and Bonfire. It follows a $6.3 million seed round in 2023.
"Our customers are seeing an average load increase of 22% after just four months using our innovative platform," Leo Gorodinski, CTO of Alvys, said in a release. "Our goal is to revolutionize carrier and broker connections with seamless, one-click workflows and integrated technologies. Traditional ERP and TMS systems are often burdensome and built on outdated technology. We're disrupting the industry by building a world-class, multi-tenant platform to replace outdated software and drive growth across the supply chain."
