Singapore-based ocean freight booking platform Haven raised $11m today in a series A round featuring O’Reilly Alpha Tech Ventures (OATV), the corporate venturing arm of media company O’Reilly.
Venture capital firm Spark Capital led the round, investing together with Accelerate-IT Ventures, Data Collective and First Round Capital. OATV, Data Collective and First Round had previously provided $3m in seed funding for Haven.
Haven operates a programmatic logistics platform that businesses can use to automate the freight procurement process. It will use the funding to further develop its platform and to expand operations in Europe, where it recently opened an office in Switzerland, and Asia.
Matt Tillman, Haven’s chief executive, said: “Rate volatility is currently a serious problem for both sides of the industry.
“Freight is the largest variable cost for many shippers and technology has the power to smooth volatility. Incorporating data and increasing automation reduces overall supply chain risk.”