Logixboard, the digital partner for freight forwarders, has announced it raised a $4.2 million seed round to expand its platform and fuel product innovation.
Social Leverage led the round, with participation from F-Prime Capital, Founders' Co-op, Techstars Venture Fund, Liquid 2 VC, Bragiel Brothers, and Tom Gonser, the Founder of Docusign. Logixboard also announced Social Leverage Partner, Gary Benitt, has joined the company's Board.
Many of the challenges that burden freight forwarders today stem from siloed systems, unstructured data, and the lack of a centralized customer offering. Quotes and bookings, the revenue driver for freight forwarders, are managed through phone calls, emails, and excel tables, taking up to 100 hours to process one quote request. Shipment visibility is not any better. Freight forwarders rely on labor-intensive operations to answer emails and phone calls of customers trying to understand where their freight is.
Logixboard helps solve these challenges through an end-to-end customer engagement platform for the $2 Trillion Freight Forwarding industry. By integrating with existing systems, Logixboard helps forwarders provide real-time visibility to their customers. This automation, coupled with Logixboard's data insights, offers immediate efficiency and increases customer satisfaction. Existing customers, like Transborder SAS, have processed millions of dollars in shipments using Logixboard and have reported a significant increase in customer satisfaction.
With the new round of financing, Logixboard will accelerate its vision of becoming the digital system of engagement for the highly fragmented global freight forwarding industry, automating quote and booking processes, deriving data insights, and building robust data integrations to other critical systems across the industry.