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Venture Capital News: Dray Alliance Inks $3.5M Seed Funding

2019-02-26
LOS ANGELES, CA, Dray Alliance announced today it has closed $3.5M in Seed financing.
Dray Alliance, the leading on-demand drayage solution for import/export shippers and enterprises, announced today it has closed $3.5M in Seed financing led by David Sacks' Craft Ventures. Already partnered with large shippers such as Mattel, and one of the leading global shipping companies, CMA CGM Group - Dray Alliance's mobile technology is generating hundreds of thousands in savings for shippers, ocean carriers and freight forwarders by connecting them with drayage truckers who deliver containers to destination warehouses.

"Drayage is currently the most neglected area of the transit supply chain. The nuances of drayage create distinct challenges and opportunities that are quite different from other trucking segments such as FTL and LTL," said Jeff Fluhr, general partner at Craft Ventures. "Focus on drayage is what sets Dray Alliance apart. That focus, combined with deep industry expertise, technical skills, and entrepreneurial grit is why we believe this team will emerge as the leader in the sector."


"The drayage trucking industry still depends on emails and spreadsheets for its daily operations - leading to massive inefficiencies that result in lower earnings for truckers, less predictability in delivery times and 20-50% increases in the drayage trucking cost of freight deliveries for shippers. This is not in the best interest of anyone involved," said Steve Wen, CEO of Dray Alliance. "Dray Alliance wants to bring Uber-like airport pick up efficiency to the drayage industry by providing a seamless mobile experience, more predictability in delivery time, and better economics for shippers, carriers, and truckers."

About Dray Alliance

Dray Alliance is disrupting the multi-billion dollar drayage industry with a technology platform that makes trucking deliveries to warehouses simple, predictable, and transparent. Eliminating the friction in each step of the delivery process, Dray Alliance efficiently connects shippers, carriers, and truckers in real time. Large shippers such as Mattel, major ocean carriers such as CMA CGM Group and thousands of truckers already use Dray Alliance's technology to save time and money.
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