Portex Raises $6.25M to Aid SMB Freight Management

Portex has just landed $6.25M in seed funding. Their mission? To help make freight management easy for small and midsize shippers.

• Founded in 2022 by Brittany Ennix, an ex-Flexport and Uber employee with experience working with midmarket clients
• Funding led by Footwork VC, with Cowboy Ventures, Susa Ventures, and Base10 joining in

Why It Matters

SMB shippers often struggle with expensive, complex enterprise systems. Portex aims to make this game as simple as possible.

Key Features

• Integrates with existing workflows
• Supports multiple freight partners
• Automates procurement and execution
• Provides real-time analytics
• Uses AI for carrier suggestions

Impressive Results

• 25 hours/week saved on manual tasks
• Up to 30% reduction in annual freight spend
• Nearing $100M in annualized bookings
• 100% retention for frequent users

At the end of the day, the customer wins.

"We used to consolidate 22 spreadsheets — a process that took four days. Now, I just awarded 75 lanes in 45 minutes," raves a Windmill Rice Co. logistics manager.

Ennix credits success to co-building features with customers. It's not just tech; it's a partnership.

What's Next

• AI-powered updates and analytics
• Team expansion for growth

Jillian Williams, Cowboy Ventures partner, says: "While small-to-midsized companies might be an overlooked market, they represent more than half of the $4 trillion global freight market."

Portex is doing what it can to make SMB freight management easy with user-friendly tech and a collaborative approach. With investment secured, time will tell what Portex will do next.

Source: FreightWaves