Startup Alvys Inc., which has built an artificial intelligence-based transportation management system for orchestrating freight operations, has boosted its war chest with a $40 million Series B round of funding.
Today’s round was led by RTP Global and saw participation from Alpha Square Group, as well as existing backers like Titanium Ventures, Picus Capital and Bonfire Ventures. It follows the company’s $20.5 million Series A round back in July 2024, and brings its total amount raised to date to $77 million.
Alvys has built a cloud-based platform that acts like an “operating system” for supply chain operations, with hundreds of third-party software integrations that allow companies to aggregate all of their logistics data into a single portal. By consolidating enterprise-wide logistics and supply chain data in this way, companies can make more informed decisions, the startup says.
Among other things, Alvys provides tools for dispatch and load management, data analytics and reporting, an international fuel tax agreement calculator, an electronic data interchange tool that allows companies to exchange business documents in a standardized format, and a comprehensive system for tracking and tracing shipments across the planet.
Other features include accounting tools and a search portal for businesses to locate and connect with available freight transportation services in any country, and a mobile application for truck drivers, through which they can update the status of their deliveries. Add to that, Alvys claims more than 100 integrations with third-party software systems such as Samsara, RMIS, DAT, Motive, RTS, Geotab and QuickBooks.
Alvys says its platform and integrations combine to provide a 360-degree view of logistics and trucking operations, enabling companies to organize freight quotes, truck driver payments, streamline dispatch, carrier onboarding, billing, compliance, reporting and more.
When using Alvys’ platform, customers see enormous efficiency gains, with an average 28% increase in monthly loads, a 9% revenue increase, 90% faster accounting times and an 80% decrease in time spent on manual data entry, the company says.
Alvys founder and Chief Executive Nick Darman (pictured) said his goal is to build the most strategic logistics and supply chain platform for enterprises that can’t afford to waste time. “That means using AI, automation and integrations to remove wasted steps, give teams smarter decision-making in real time, and helping carriers and brokers grow their operation and profit margins without adding overheads,” he said.
Darman declined to talk about customers, but insisted that the rapid follow-on funding round reflects growing interest in the need for a more intelligent and comprehensive transportation management system.
The funding will be used to create further functionality for larger carriers via more application programming interface-based integrations, refined analytics tools and enhanced compliance features. The goal is to speed up logistics operations further, with accelerated onboarding and more automation.
RTP Global Partner Julius Schwerin said he’s investing in Alvys because of its ambition to become the operating system for enterprise logistics. He thinks it can achieve that goal, because it has the “best-in-class” transportation management system around. “Alvys rewires how loads are sourced, dispatched and reconciled, and with 120-plus integrations, native EDI and built-in routing, freight companies move more loads with fewer tabs,” he said.
Images: Alvys
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