Investment to speed digital adoption, expand capabilities, grow its team, and strengthen connectivity with its 3rd-party partner ecosystem
Parade announced securing $12.7M in Series A funding led by Menlo Ventures. The round includes investment from Greenhawk Capital, Jones Capital, and participation from leaders in supply chain & freight tech leaders. The company will use its latest investment to accelerate digital adoption, expand capabilities, grow its team, and strengthen connectivity with its third-party partner ecosystem.
“Supply chain digitization is at a tipping point, as logistics service providers increasingly rely on more connected workflows to maximize efficiency and speed,” said Steve Sloane, Partner, Menlo Ventures. “Parade empowers all freight brokers to go digital, with powerful tools and technology to optimize workflows, manage carrier relationships and operate more strategically.” Sloane is an active investor in supply chain and logistics startups. With this investment, he will join Parade’s Board of Directors.
“Freight brokerages have been on the front lines of managing supply chain volatility by helping shippers find available trucks. Our team is eager to use this latest round of funding to speed up tech-enablement for all freight brokers so that they can optimize and grow their businesses,” said Anthony Sutardja, co-founder and CEO, Parade. “The team saw digital transactions managed by Parade customers increase by more than 500% last year. Customers continue to recognize and reward Parade for innovation and providing a best-in-class freight brokerage software as the industry shifts towards more real-time and collaborative ways of doing business.”
The Series A round includes continued participation from Jones Capital, The House Fund, and Oriza Ventures. This announcement complements Parade’s undisclosed seed financing to reach $18.4M in total capital raised. Early funding sources include Arena Ventures, BASE Ventures, at.inc/, and other strategic industries leaders.
Parade enables any freight brokerage to go digital by providing tools and infrastructure. Parade’s broker customers find and book trucks online using its AI-enabled Truckload Capacity Management Platform.
Over the past year, Parade has brought to market its core product: Capacity Management for freight brokers. The platform works by layering on top of a freight broker’s existing systems, such as its Transportation Management System (TMS), to supercharge a freight broker’s capabilities to find availability of trucks, digitally transact loads, and grow business. Parade’s customers include major freight brokerages like Armstrong Transport Group, Schneider, and Worldwide Express.
Parade’s expansion signals its continued dedication to build and serve best-in-class technologies for freight brokers to help them unlock efficiencies and grow their business. Parade is actively hiring, especially for engineering and product positions; visit parade.ai, in the footer, click to “Join Our Team.”
