Slync.io raises $11m for AI-based logistics
April 21, 2020
California-based AI in logistics start-up Slync.io has raised $11m series A funding. The company delivers an operating system for end-to-end global supply chain and logistics management.
The funds will support hiring and growth as the company continues to expand its user base from four to six continents.
Slync.io is a multi-modal end-to-end platform with an AI engine for managing and orchestrating global supply chain and logistics operations. Traditional supply chain management software is highly fragmented with legacy products addressing single transportation modes or disjointed segments.
“Now, more than ever, maintaining global trade without disruption is crucial,” said Chris Kirchner, CEO and co-founder of Slync.io. “We must keep the supply chain predictable and reliable. At Slync.io, our customers love the product, and in this chaotic time are expanding implementations so they can better adapt and manage the volatility we’re all experiencing due to outside, uncontrollable global trade variables, such as the Covid-19 outbreak.”
Slync.io’s Logistics Orchestration product makes real-time data actionable, going beyond predictive visibility to achieve a new level of connectivity and responsiveness for multiple logistics partners to collaborate effectively. Three of the top five freight forwarders in the world – Kuehne + Nagel, DHL and Expeditors – are among global enterprises using Slync.io.
"Slync.io has a powerful and exciting product,” said Markus Johannsen, senior vice president at Kuehne + Nagel. “I was happy to partner early with Chris and the Slync team and I am very happy with our results so far.”
Slync.io’s flexible architecture allows it to be implemented in a wide array of use cases across the enterprise. From connecting a complex network of warehouses around the globe, end-to-end tracking of a shipment across multiple modes of transportation, order to delivery management, and multi-enterprise logistics management, to being a single operating system for massive global logistics networks, Slync.io has built a platform changing how operators move goods around the world.
This investment round was led by Blumberg Capital, with participation from Correlation Ventures and existing investors including 235 Capital Partners.
“Slync.io is extraordinarily well positioned with multiple customer wins from global blue chip logistics players and shippers that have traditionally built their own software systems,” said David Blumberg, founder and managing partner at Blumberg Capital. “This indicates a tipping point in the industry where it’s becoming clear to many they must move from proprietary, legacy systems to API driven modern AI-powered systems. With the advent of the Covid-19 crisis, we see Slync.io as part of the solution, not just in the short term, but for a more robust, global supply chain with flexible data visibility management and operational efficiencies in the long term.”
Founded in 2017, Slync.io’s team and early employees are enterprise software and artificial intelligence veterans with many coming from Salesforce. Slync.io’s API-first, metadata based platform connects multiple disparate systems, ingests structured and unstructured data, orchestrates resources, and automates complex processes for collaboration between the many entities involved in global supply chain logistics networks.
“This financing is a testament to our amazing team, our innovative customers and the early investors of Slync believing in a vision to build the next iconic enterprise software company,” said Kirchner. “The future is big for Slync.io and this new capital will help us support even more customers around the globe.”
Slync.io is headquartered in San Francisco.