Vizion Raises $3.25M to Solve Ocean Freight Visibility Problem
This latest funding will support and drive the continuing maturation of Vizion’s API-based software solutions, its growing customer base, and scaling its team.
PALO ALTO, CA and ATLANTA, GA, UNITED STATES, September 13, 2021
Vizion, an API-based solution for ocean freight visibility, today announced it has raised $3.25 million led by supply chain specialist Tech Square Ventures with participation from Revolution’s Rise of the Rest Seed Fund, MS&AD Ventures, and Ashish Mistry. Existing investors Dynamo Ventures, 1984 Ventures, Wavemaker Partners, and SaaS Ventures from Vizion’s pre-seed round also participated in this round. The funding will drive the continuing maturation of Vizion’s software, the expansion of Vizion’s growing customer base, and its investment in human capital.
Vasant Kamath, a general partner at Tech Square Ventures, said “We are excited to invest in Vizion to bring much-needed visibility to the global supply chain. The Vizion team has executed very well against this large and immediate problem.” Added Thiago Olson, principal at Tech Square Ventures; “We believe there is a lot of strategic value in Vizion’s solution and product roadmap. We are delighted to support them in this new stage of growth.”
“By expanding our investment in Vizion, we’re excited to watch the Vizion team accelerate leadership around container logistics visibility. Vizion delivers on the promise that starts with easy access to tracking containerized freight and then delivering the highest quality, most extensive data set possible to both shippers and forwarders,” said Santosh Sankar, partner at Dynamo Ventures.
Founded on the principle that ocean visibility data is difficult to access and work with, Vizion solves these issues for a variety of applications and data needs. The company’s promises of the highest quality data and the easiest access to it allow businesses to quickly integrate existing Vizion solutions with their systems or develop new solutions on top of clean, enrichiched, standardized data. Having access to quality real-time data eliminates questions about shipment status and empowers stakeholders to focus on actionable insights that will help drive business growth and customer satisfaction. With simple, straightforward APIs and quality data sets, supply chain professionals can begin to experience deeper value that instills confidence and informed decision making.
Tiffine Wang, a partner at MS&AD Ventures, was impressed by Vizion’s ability to create such a delightful experience in an antiquated sector. Vizion’s API covers over 98% of global container traffic and they’re already selling globally. “Today, we live in a data-driven world. It’s not only about the amount of data but the quality and being able to access the data at the right place at the right time. Vizion is supporting the ecosystem to create an “Amazon-like” experience for the B2B international ocean freight world. We really love what they’re building!”
Vizion’s data solutions are changing the industry—its customer base of leading freight forwarders, BCOs, and TMS providers expect to manage over 2 million containers in 2021 using the Vizion platform. Further, Vizion’s data processing technology enables it to cover over 98% of ocean carriers shipments while ushering in a new gold standard for ocean visibility data quality.
“The team and I are excited to accelerate our go-to-market strategy to meet the ever-increasing demand for high-quality visibility. By extending our product offering into more advanced visibility at key interchanges such as port terminals and drayage, we will be addressing what the market is asking for. Our partnerships will continue to expand and deliver greater in-depth visibility to digital twin SCM solutions.” said Kyle Henderson, CEO of Vizion.
Vizion is an API-based solution for ocean freight visibility. The company’s API helps logistics service providers, cargo owners, and other stakeholders act on their digital ambitions by integrating essential data and insights into existing enterprise systems and delivering a stronger customer experience. Vizion’s products include visibility APIs, data benchmarking, and enriched, accessible datasets built on fundamentally sound information technology infrastructures.