LogiNext offers automated order administration, predictive capacity planning, real-time route optimization, dispatch automation, transparent customer experience, and post-delivery processing and analytics of B2B transportation or B2C delivery businesses.
FREMONT, CA: LogiNext, a California-based transportation automation platform, raised $39 million in the funding round co-led by giant US-based investors Tiger Global Management and Steadview Capital. The Series B round of funding comes after the firm had raised $10 million in a Series A round led by Indian payment majors Paytm and Alibaba in 2016.
Sanghvi and Manisha Raisinghani founded LogiNext in 2014, which is a software-as-a-service (SaaS) company that utilizes machine learning and cloud technology offering solutions to manage and optimize logistics and field service operations. It serves more than 200 clients across North America, Southeast Asia, and the Middle East. LogiNext has its offices in India, Singapore, UAE, and Indonesia, with a workforce of 125 employees. The company’s funding stands at a value of almost $100 million across the three rounds to date.
“In the global trend of transportation and eCommerce, we believe that we have got the right timing. End customers, be it consumers or businesses, are expecting things to reach them faster than ever, and our technology platform can help enterprises do just that. We believe we have built the right team and the right business model to help us scale to the next level from here.” said LogiNext CEO Dhruvil Sanghvi said.
LogiNext plans on using the funding proceeds to expand its presence to New York, Sydney, and London and double its workforce by accelerating its customer service success and research and development teams.
Ravi Metha, CEO of Steadview Capital, said, “LogiNext has built a strong presence among large global customers in the last 18 months and continues to grow at a breakneck speed.”
LogiNext has clients from e-commerce, retail, consumer goods, express transportation, utilities, and food and beverages segment. The company added 10 Fortune companies to its clientele in 2019, including Decathalon, Singapore Post, and McDonald’s, and in 2020, it plans on having 30 Fortune funded companies on board.