Haven is pleased to announce a Series A round of $11 million to automate freight procurement and improve global supply chain efficiency
SINGAPORE - Haven, a Singapore-based company with offices in San Francisco and Basel, is excited to announce its USD $11 million Series A round. The round was led by Spark Capital and joined by new investor AITV, with follow on funding from existing investors O’Reilly Alpha Tech Ventures, Data Collective, and First Round Capital. Kevin Thau, General Partner at Spark Capital, will join the board.
Haven launched its online booking platform for ocean freight in March 2014. It has since expanded into a full-service programmatic logistics platform that automates freight procurement for the world’s largest commodity traders, food producers, and CPG companies. Haven enables customers by improving execution speed and efficiency, while eliminating the middlemen that introduce unnecessary complexity into the global supply chain.
“Rate volatility is currently a serious problem for both sides of the industry,” said Haven CEO Matt Tillman. “Freight is the largest variable cost for many shippers and technology has the power to smooth volatility. Incorporating data and increasing automation reduces overall supply chain risk.”
The new money will be used to grow European and Asian operations and to continue development of Haven’s automated platform. Haven recently opened its European headquarters in Basel, Switzerland, and plans to expand the office to better serve European customers.
“Transforming commodity transportation gets the materials that build our houses and the food we eat to where we need it, with less friction and at lower cost,” said Tillman. “Automating freight procurement will transform global trade, and this financing enables us to remain focused on technology.”
