We’re excited to share that we have led Terminal49’s $6.5M Series A!
Terminal49’s container and ocean freight tracking system helps scores of customers understand where in the world the freight container they care about is at any given point in time. Even more importantly, it allows customers to prioritize containers in need of remediation, and take steps to fix the issue and get back on track.
Anyone who has experienced a delayed furniture delivery, seen fleets of ships waiting to berth at a port, or tried to source a product from across a border knows: This is a big problem that has not yet been adequately solved.
Over the past 3 years, we’ve frequently seen turmoil snarl the global supply chain. And whether we like it or not, supply chains are only getting more complex. Companies are rethinking where they need to source product from. Bottom lines are mangled by having too much inventory of one item, while top lines struggle because shelves have too little of a different one. All the while, end customers experience frustration when they can’t find what they want, or companies take too long to get it to them. With T49, companies know where their stuff is and can actually take steps to fix a bad situation, capitalize on an opportunity, or navigate through a global supply chain crisis with confidence.
We’re fortunate to have the chance to support Akshay (CEO), Matt (CTO) and the entire T49 team. They have done an incredible job building T49 into a fast-growing business that has reached impressive scale—particularly when you consider the small (but mighty!) team that hasn’t had the benefit of a ton of capital to get to this point. We’re also grateful to team up with our friends at Initialized, Afore, Grand Ventures, and more to help Akshay & team realize their vision.
The most exciting thing is that Terminal49 is just getting started. They have the ingredients to automate huge swaths of global trade, and make life easier for hundreds of thousands of companies that deal with complex processes like importing, customs forms, drayage, and more. And that’s on top of everything T49 already does today!