Today we are excited to announce that our company, Fleet, has completed a $10M Series A round of financing. Lufthansa Cargo led the investment round with participation from existing and new investors including Hunt Technology Ventures, UPS, UP2398, 1517 Fund, amongst other previous investors.
Over the past year, the shipping spend via the Fleet platform has grown seven times. We’ve helped thousands of importers and exporters save a significant amount of money and time. For a typical medium-sized shipper (a business that ships from 5 to 100+ shipments per month), Fleet helps save up to $30,000 and 800 hours annually by reducing the time spent getting quotes, setting up accounts, managing paperwork and checking on the shipment status.
This new funding round will enable us to expand our team in Portland, to develop the product, and to focus on business development. Dr. Alexis von Hoensbroech, Chief Commercial Officer of Lufthansa Cargo, has joined our board of directors.
“Lufthansa Cargo brings strategic industry experience and joins Fleet not only as an investor, but also as a board member, and soon as a partner to help launch our new air freight platform,” said Max Lock, CEO of Fleet. “This new funding enables Fleet to accelerate our platform and bring new features and functionality to enhance our customers’ experience.”
For more information about Fleet’s latest funding round, check our official announcement here.