Portex Raises $6.25M to Aid SMB Freight Management

Freight management platform Portex secures $6.25M in seed funding to transform logistics for small and midsize shippers with AI-powered, user-friendly platform.

Portex Raises $6.25M to Aid SMB Freight Management
Image Source: BusinessWire

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
Image Source: FreightWaves

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


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