Logixboard raises $4.2 million to digitize the $2 Trillion global Freight Forwarding industry
SEATTLE, Oct. 22, 2019 /PRNewswire/ -- Logixboard, the digital partner for freight forwarders, announced it raised a $4.2 million seed round to expand its platform and fuel product innovation. Social Leverage led the round, with participation from F-Prime Capital, Founders' Co-op, Techstars Venture Fund, Liquid 2 VC, Bragiel Brothers, and Tom Gonser, the Founder of Docusign. Logixboard also announced Social Leverage Partner, Gary Benitt, has joined the company's Board.
Many of the challenges that burden freight forwarders today stem from siloed systems, unstructured data, and the lack of a centralized customer offering. Quotes and bookings, the revenue driver for freight forwarders, are managed through phone calls, emails, and excel tables, taking up to 100 hours to process one quote request. Shipment visibility is not any better. Freight forwarders rely on labor-intensive operations to answer emails and phone calls of customers trying to understand where their freight is.
Logixboard helps solve these challenges through an end-to-end customer engagement platform for the $2 Trillion Freight Forwarding industry. By integrating with existing systems, Logixboard helps forwarders provide real-time visibility to their customers. This automation, coupled with Logixboard's data insights, offers immediate efficiency and increases customer satisfaction. Existing customers, like Transborder SAS, have processed millions of dollars in shipments using Logixboard and have reported a significant increase in customer satisfaction.
"As freight forwarders around the globe clamor for a modern unified customer offering, Logixboard has identified a hugely underserved market," said Gary Benitt, partner at Social Leverage. "We're thrilled to support Logixboard at this critical point, and believe the company is well-positioned to democratize digitalization for thousands of freight forwarders across the globe."
With the new round of financing, Logixboard will accelerate its vision of becoming the digital system of engagement for the highly fragmented global freight forwarding industry, automating quote and booking processes, deriving data insights, and building robust data integrations to other critical systems across the industry.
"Engagement platforms are critical to any customer-facing industry, and freight forwarders have been largely ignored and left behind by software providers driving digitalization in other sectors. We are filling a unique market need by helping freight forwarders better serve their customers," said Julian Alvarez, CEO, Logixboard. "Today's funding further fuels our mission of driving digitalization for all freight forwarders regardless of their size, geography, or current systems used."
About Logixboard
Logixboard is the digital partner for freight forwarders to succeed in today's highly competitive market. Our web-based platform empowers freight forwarders to do their work more efficiently, increasing customer satisfaction, and unlock the power of their data. Logixboard is a recent graduate of Techstars and is based in Seattle, WA, with offices in Bogota, Colombia. For more information, visit https://logixboard.com/.
About Social Leverage
Social Leverage invests in exceptional entrepreneurs, having made investments in more than 150 companies in the past 15 years. Social Leverage partners with promising technology companies, bringing its entrepreneurial expertise, relationships, and marketing experience to the forefront.
For contact: [email protected]
SOURCE Logixboard
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