Leaf logistics has announced the raise $37 million in series B funding. Madrona Venture Group participated in the round along with Sozo Ventures, who led the round. Other previous investors also attended the round including Floodgate, Schematic Ventures, Playground Global, and Supply chain Ventures. The other individual investors who joined the funding round include the founding teams at The Intercontinental Exchange and Flexport. The fresh funding capital will be utilized for plans of significant hiring and development of the scale product and commercial positioning. This turning for the company has come after an increase of 10x in the annual revenue and the nationwide transportation network growth which has reached more than $23 billion, according to data.
Founded in the year 2017, New York-based Leaf Logistics was initiated with a mission to bring improvement in the planning of transportation through the strategic use of machine learning as well as data analytics. The company works towards connecting providers, shippers, and other partners to network productiveness and an idea of the transportation market for the future.
New York-based Leaf Logistics was founded in the year 2017 with a mission to bring improvement in the planning of transportation.
The present-day disruption is that 30% of the trucks on the road are moving empty which represents industrial waste. By coordinating through the Leaf platform, the participants can identify 20% of the disorganization in the industry which has a value of $800 billion. This will help brokers and carriers to generate a better rate of revenue and the shippers will be able to reduce the costs, which will eventually result in a reduced number of empty trucks on the roads and the corresponding unwanted carbon emission.Â Â Â
The platform of Leaf Logistics brings together different logistics partners like transportation providers and shippers to provide better and more flexible transportation planning to have a clear view of the market in order to deal with future supply chain disruptions. Leaf Adapt technology allows the shippers to have continuous network optimization to help them find efficient routes that allow the drivers to utilize the platform to bring a decrease in the empty miles. This latest round of funding will help to speed up the companyâ€™s growth and increase the entire network value including the participation from retail, consumer goods, food, beverage, etc.Â
CEO of Leaf Logistics, Anshu Prasad
According to the CEO of Leaf Logistics, Anshu Prasad, in most corporations, the largest expense holding department is transportation, which suffers from a simple problem of coordination between the logistics partners. The reason to be said behind the problem is the existing processes and tools which are limited. The company was started with a vision to address this issue by making Leaf Logistics a platform to focus on the transportation network for a better future.
The need for a new and more reliable solution for the help of shippers has become a necessity and thus, the supply chain disruptions in the past year have allowed the company to see a great response in terms of adoption of the platform. The launch of the companyâ€™s Adapt technology has proved to be helpful for the shippers to realize productivity gains of over 10% and at the same time exceptional reduction of CO2 emissions.