Forager raises $10 million Series A for cross-border tech
Forager is building a marketplace that allows shippers and brokers to procure capacity and manage a super complicated process of shipping freight between the US, Mexico and Canada and brings all relevant parties online while pulling in multiple suppliers for a single shipment. While Convoy and Uber Freight fight over intra-US lanes, freight headed to Mexico and Canada is a $30B afterthought given process complexity and visibility constraints. Matt Silver founded the company after spending half a decade building Coyote Logistics with his family ($1.8 billion exit) building the largest cross-border operation in the US. He’s pulled his network of border transfer carriers, customs brokers, and non-US shipping/transload/receiving facilities into the Forager platform, which has given shippers visibility, often for the first time, in what has been historically opaque markets. Shippers receive the benefit of instant pricing, clarity on operational processes and better access to data as Forager creates the new standard for cross-border shipping. Early adopters include Pepsi, Samsung, La-Z-Boy, and DHL. Forager’s Series A was led by USVP for $8m.