Logistics automation platform Slync.io raises $60m in funding
The Dallas-based company said it will use the investment to expand its physical presence in Asia and Europe and develop its core team.
February 8, 2021
By PLA Editor
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Shipping and logistics process automation company Slync.io last week raised $60 million after closing its series B funding round led by Goldman Sachs Growth. The Dallas-based company said it will use the investment to expand its physical presence in Asia and Europe and develop its core team.
Logistics service providers face a major challenge in driving alignment between shippers, forwarders, carriers, and information systems, and whilst enterprises can’t afford to stop and wait for digital transformation to take place, forwarders and shippers are left to rely on outdated systems that silo data, resulting in workflows that are heavy on manual processes and outdated information.
Slync.io says it gives enterprises a new way to think about digitalisation with a platform that easily integrates with existing systems and trading partners, ingests structured and unstructured data, and automates processes and workflows to improve productivity and drive meaningful transformation.
The company’s software as a service (SaaS) platform synchronises enterprise systems and manual tools within a single system, allowing logistics teams to focus on value-added activities and supporting their customers instead of tedious back office processes.
“This is a great milestone for us at Slync and a testament to our amazing people and the hard work they have put into building this company since the beginning,” said Chris Kirchner, Slync’s Chairman, CEO & Co-founder. “For us, everything starts with our customers, and more capital to invest in our global team, accelerate our product development, and grow our service offerings is a big win for all of them.”
The company said it experienced significant momentum since the beginning of 2020, with its successful series A round in March, bringing its total capital raised in 2020 alone to over $70 million.
Goldman Sachs Growth led the series B investment with participation from ACME Ventures, 235 Capital Partners, Correlation Ventures and other existing investors.