Series A funding to accelerate platform
development and market reach
SOLANA
BEACH, Calif., July 15,
2024 /PRNewswire/ -- Alvys, the next-generation
logistics operating platform for logistics and supply chain
management, today announced 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.
The successful achievement of this round solidifies Alvys's
position as a leader in logistics and supply chain management. The
company is experiencing rapid customer growth, and this capital
enables Alvys to accelerate its development efforts and to recruit
top talent to solve complex issues within the industry.
"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."
Alvys is on a mission to become the global standard logistics
operating platform for logistics and supply chain management. The
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."
For more information on Alvys, please visit
https://alvys.com/.
About Alvys
Alvys is a cutting-edge logistics
operating platform designed to revolutionize logistics and supply
chain management by integrating modern, cloud-based solutions to
streamline processes and improve operational efficiency. Founded in
2020, Alvys provides comprehensive solutions for load management,
accounting, billing, driver and vendor pay, and payroll. The
platform organizes relevant data, making it accessible to every
user within an organization. Alvys enables quick, informed
decision-making and reduces manual processes to create the most
advanced TMS in the industry. For more information, visit
https://alvys.com/.
MEDIA CONTACT:
Heather
Ripley
Ripley PR
865-977-1973
hripley@ripleypr.com
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SOURCE Alvys