Voyager Portal (Voyager), a software platform enabling companies to reduce cost, risk, and complexity in their marine supply chain, has today announced a US$8.4 million Series A investment, led by Phaze Ventures. Other new investors include ScOp Venture Capital, Waybury Capital and Flexport. All existing investors followed in on this round.
The new funding comes on the back of unprecedented growth since the company raised US$1.5 million in seed money two years ago. Since then, revenue has increased 13 times from 3Q20 to 3Q21 and was up 40% from 2Q21. Additionally, Voyager surpassed the US$1 billion mark for freight managed on the platform. Voyager's customers include manufacturers, traders and shippers in the renewable energy, commodity trading, mining and petrochemicals industries.
“Voyager Portal was created to significantly reduce cost, risk, and complexity when transporting bulk materials around the world,” said Matthew Costello, CEO and co-founder of Voyager. “The last two years have demonstrated just how critical shipping bulk commodities is to global markets – freight rates have increased and port congestion is at an all-time high – accelerating the demand for Voyager’s solution.”
Costello continued, “with our Series A funding, we’ll be able to expedite our product roadmap to support an international client base whilst expanding our engineering, development, marketing and sales teams internationally.”
The company’s low-code architecture, which allows customers to quickly and easily configure the platform to match their business processes, is a differentiator in a market dominated by rigid legacy systems. The platform was also built from the ground up to be a multi-party system, allowing companies to seamlessly collaborate in real time over a single shipment. Working in a unified system allows for all parties to manage, track and analyse the lifecycle of a shipment with greater context and insight.
“Voyager's implementation has been hugely impressive,” said Adam Panni, operations manager at OMV, a multinational energy company based in Austria. “The low-code functionality allows almost real-time modifications to the developing workflows and reporting capabilities with no lengthy development and minimal testing prior to implementation. By digitising data capture across all our physical movements, we are able to analyse our business much better, enabling faster and smarter decisions driven by data. This, in turn, will provide significant, quantifiable cost reductions for our business.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/13122021/voyager-announces-series-a-investment/