Raft secures $30m funding to develop new services and solutions

Online logistics automation platform Raft has raised $30m to be used to develop new services and solutions.

The series B funding round was led by global VC investor Eight Roads with participation from existing investors Bessemer Venture Partners, Episode 1, and Dynamo Ventures, as well as Moguntia Capital.

The capital infusion will be used to develop and deploy automation products, improve data collaboration — including emissions and visibility data — and extend Raft’s market reach.

James Coombes, chief executive and co-founder, said: “We’ve always been clear about focusing on specific parts of the shipment lifecycle where automation has the highest return on investment.

“We recognized early on the pain points around accounts payable reconciliation and customs entry preparation, and we’ve since grown the product to help automate areas such as warehousing, booking confirmations, and more.

“We quickly understood that our customers don’t want separate solutions for each of these areas, they want one AI-platform that offers best-in-class automation across the length and breadth of their business.”

Raft helps forwarders apply AI to their data operations and customer interactions.