Forager, the Chicago-based technology and logistics company focused on cross-border freight, announced Wednesday morning that it had closed a $10 million Series A round of venture capital funding.
The Series A was led by Silicon Valley firm U.S. Venture Partners (USVP); previous investor Chicago Ventures and new investor Soma Capital also participated in the round. Forager’s valuation was not disclosed.
CEO Matt Silver, VP of Finance & Analytics Jordan Salins, and COO Jessie Essman founded Forager in January 2019. Silver’s industry experience came from growing up at Coyote Logistics, the freight brokerage founded by his father in 2006, where he managed cross-border operations in Mexico and Canada. In November, Forager launched the first version of its cross-border freight matching and pricing platform, SCOUT.