What is Freightos? Freightos Review, Features

Freightos is a freight forwarding company that uses powerful search engine technology to automate freight routes and price calculations, including all the intricate details of sea, land and air transportation. Its main goal is to increase the level of digitization in international logistics and transportation.

Founding Background

Freightos founder and CEO Zvi Schreiber was facing a headache when he was working for a company that worked with the United States. He wanted to ship the company's electronic parts to the United States, but found that these steps were time-consuming, non-transparent, and there was no online support. Unable to provide useful information, the freight company was still using obsolete computer simulation data.

Schreiber said Freightos' online marketplace "makes shipping freight as easy as booking an airline ticket."

About Freightos

• Freightos is based in Jerusalem and was founded in late 2011 by current CEO Zvi Schreiber. It has six offices in the United States, Europe, Asia and the Middle East.

• Freightos has developed a cloud-based database to which the latest prices and details are uploaded at any time. Customers can quickly and efficiently find useful information in a large amount of data and then provide their customers with timely feedback on quotes. Freightos has re-optimized the logistics process of global transportation through big data.

• As a company tasked with "providing real-time data for the logistics industry," Freightos is considered the Kayak or Expedia for international shippers, providing timely services like online travel searches to people around the world who have freight needs.

Platform situation

The Freightos platform can provide shippers with a large number of options based on the shape, size, weight, transportation time, transportation location and other information of the goods, including different modes of transportation such as air, sea, and land transportation, and provide price comparisons between different freight forwarding companies and transportation companies, allowing shippers to choose the best one. At the same time, the platform provides real-time ordering functions, without adding additional fees, and visible and available transportation solutions, which greatly improves the user experience.

Development History

-In 2011, Schreiber founded Freightos to use big data to provide more scientific quotes.

-In December 2012, it received $1.7 million in seed round funding from Zvi Schreiber and OurCrowd-GCai.

-In March 2014, it received angel round financing of US$4.6 million from Aleph, Israel Cleantech Ventures (ICV), and OurCrowd-GCai.

-In October 2014, it received US$10.6 million in Series A funding from OurCrowd-GCai and Annox Capital.

-In September 2015, it received US$14 million in Pre-B round financing from Aleph, Israel Cleantech Ventures (ICV), Sadara Ventures, MSR Capital, Annox Capital, and OurCrowd-GCai.

-In 2016, Freightos launched an online freight platform, Freight Marketplace, which integrates the resources of transportation companies, freight forwarding companies and shippers, and provides shippers with convenient and fast functions to query quotes, compare prices and place transportation orders.

-In 2016, Freightos announced the acquisition of air cargo rate management provider WebCargoNet.

-In March 2017, logistics technology startup Freightos received US$25 million in Series B funding, led by GE Ventures.

- In September 2018, Freightos announced that it had received US$44.4 million in Series C financing, led by the Singapore Exchange, with participation from existing investors including General Electric Ventures (the lead investor in the previous Series B financing), ICV and Aleph. After this round of financing, Freightos' total financing will reach US$94.4 million.