Alvys Raises $20.5M in Series A Funding Round
Logistics software provider Alvys announced in a press release on Monday it has raised $20.5 million in a Series A funding round. The round was led by Titanium Ventures (formerly Telstra Ventures), with new investor Picus Capital and existing investors RTP and Bonfire.
“This funding round marks a pivotal moment for Alvys as we continue our mission to revolutionize the logistics and supply chain industry,” said Nick Darman, founder and CEO of Alvys. “We’re tackling some of the most complex challenges currently vexing the industry, which is moving the needle on attracting innovative thinkers to our team to help us solve those problems.
“With this investment, we’re poised to accelerate our growth, enhance our platform and bring on board the brightest minds ready to transform how the industry operates. Our goal is to empower every professional in logistics and supply chain with the tools they need to make better, data-driven decisions.”
The Alvys platform addresses inefficiencies in current logistics 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.
Alvys allows for the efficient consolidation and organization of data, bringing relevant information to each user and enabling quick, informed decision-making. The platform offers a complete package that ensures seamless operation across all aspects of logistics management.
“We are thrilled to announce our investment in Alvys and contribute to their mission in revolutionizing the freight industry,” said Saad Siddiqui, General Partner at Titanium Ventures. “Their technology transcends traditional TMS, incorporating the most modern technology with AI, features, and workflows that customers desperately need. In an industry filled with older, legacy technology and one that faces regulatory changes, it is harder than ever to be in the freight space. Customers need a better understanding of their business and in real time, and Alvys is the only platform that provides them with all these features.”
“Our customers are seeing an average load increase of 22% after just four months using our innovative platform,” said Leo Gorodinski, CTO of Alvys and former VP of Engineering at Jet.com. “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.”
