Funding elevated for GoodShip, reaching $25 million in their Series B round
GoodShip Secures $25 Million in Series B Funding to Revolutionize Freight Management
GoodShip, an AI-powered freight management and orchestration platform based in Bellevue, Washington, has announced a successful Series B funding round, raising $25 million. The funding round was led by Greenfield Partners, with participation from returning investors like Bessemer Venture Partners and Ironspring Ventures.
Currently, GoodShip's platform integrates planning, procurement, and performance management by unifying fragmented freight data and automating processes that were traditionally handled using spreadsheets and email. Notable clients like Tropicana, KeHe Distributors, Kellanova, and KBX Logistics have reported benefits such as a 3-5% reduction in transportation costs and a 20% decrease in late shipments, translating into millions of dollars in annual savings for clients.
With the new investment, GoodShip plans to scale its platform, deepen AI capabilities, and expand engagement with enterprise customers to further advance AI-driven freight orchestration and procurement. The CEO, Ryan Soskin, emphasizes transforming freight management from a reactive, fragmented "black box" into a unified, data-driven, more automated system that delivers smarter decision-making and network optimization.
GoodShip is also part of a growing ecosystem integrating real-time freight rate intelligence through APIs and embedded analytics, partnering with providers like DAT to enhance freight rate benchmarking and streamline operational workflows for shippers. This integration supports improved planning, smarter procurement via data-driven RFPs, and better negotiation based on accurate market data.
The expansion will focus on enhancing AI-driven solutions and embedding automation into freight operations. GoodShip's platform unifies procurement and visibility in a way that's already proving its value at enterprise scale across the world's largest shippers. With its total funding now exceeding $40 million, GoodShip is set to strengthen its leadership position in the freight orchestration landscape.
Itay Inbar, Principal at Greenfield Partners, stated that GoodShip is redefining a trillion-dollar industry with a novel approach and rapid AI innovation. He believes that GoodShip's platform will continue to deliver value across the supply chain, deepening relationships with enterprise clients and revolutionizing the transportation industry by shifting from traditional spreadsheet-based operations to a more integrated, data-driven approach.
Sources: 1. GoodShip Raises $25 Million in Series B Funding 2. GoodShip Secures $25 Million in Series B Funding 3. GoodShip: AI-Powered Freight Management Platform Raises $25 Million 4. GoodShip Partners with DAT to Enhance Freight Rate Intelligence 5. GoodShip: Transforming Freight Management with AI
- GoodShip's new investment will be used to strengthen AI capabilities in their freight management platform, aiming to deliver value across the supply chain and revolutionize the transportation industry.
- With its focus on AI-driven solutions and automation, GoodShip's platform aims to advance freight procurement and orchestration, bringing a more integrated, data-driven approach to the business of finance within the supply chain.
