Online Logistics Marketplace Raises $4 Million in Seed Funding
Fleet, an online marketplace for international logistics, has announced the closing of a $4 million seed funding round led by Hunt Technology Ventures, L.P. Other investors participating in this round include Placid Ventures, L.P., David S. Hunt, 1517 Fund, Latam Partners, GrowthX Fund, NFQ, and Telegraph Hill Capital.
Founded in 2014, Fleet is an online marketplace for international logistics that aims to connect small and medium-sized businesses with freight forwarding companies and other logistics service providers.
Fleet recently launched the Fleet Quoting Marketplace, an online quoting platform that enables small and medium-sized businesses to open quote requests, to receive, compare, and accept quotes from freight forwarders. The company addresses a major concern among an underserved segment of small and medium-sized businesses: market transparency. With Fleet’s quoting platform, along with the existing rating and review features, shippers are empowered to make educated decisions regarding which service providers will handle their shipments.
Shippers who use Fleet to create quote requests typically save 20 percent on their shipping costs and receive quotes five times faster compared to using traditional methods such as calling or emailing freight forwarders.
For freight forwarders, Fleet provides a venue where they can showcase their reputation and services. Fleet not only connects freight forwarders with customers who are ready to buy, it also offers them great assistance in managing their sales and marketing efforts. The platform is easy to use and more cost effective than traditional sales methods, which hinge on international advertising and cold calls.
“Fleet is expediting world trade by enabling millions of small and mid-sized businesses to easily move their goods,” said David S. Hunt, managing partner of Hunt Technology Ventures, L.P. “Fleet is the disruption that the international shipping industry has sorely needed for a long time. Using Fleet, the industry will turn from something that is complex and daunting, into a simple and streamlined transaction process.”
Fleet will use the funding to continue developing the Fleet platform, grow its team, and expand its user base of both shippers and freight forwarders. The platform will further enhance the customer experience for shippers by providing price quoting ability, financial transactions, and shipment status visibility.
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