Slync.io, a platform for global supply chain and logistics operations, has closed on a $60 million Series B funding round led by Goldman Sachs’ Growth Investment division.
The news follows some big moves for the global company, which aims to make managing and orchestrating the supply chain and logistics operating process easier for global logistics providers and shippers. Last year, Slync.io moved its headquarters to Dallas from San Francisco and closed on an $11 million Series A round.
That brings its total funding to $71 million.
In addition to Goldman Sachs Growth, participation in the Series B came from ACME Ventures, 235 Capital Partners, and Correlation Ventures, among other existing investors. Goldman Sachs’ John Giannuzzi will join Slync’s Board of Directors as part of the deal, according to a statement.
“Slync has demonstrated tremendous progress on its mission to help global logistics service providers and shippers solve some of their most critical challenges,” Giannuzzi said in a statement. “We believe that Slync is well positioned for long-term success and we’re excited to provide Slync with additional support and resources to advance its product roadmap and accelerate its global growth.”
Slync offers process automation for enterprise supply chains and the global logistics industry, making the process more transparent. The goal is to increase productivity, while at the same time reducing operating expenses, through intelligent automation.
Logistics Orchestration is Slync’s end-to-end service offering that the team says “revolutionizes” traditionally complex, costly back-office logistics processes. The SaaS platform combines all enterprise systems and manual tools into one system to provide “seamless data harmonization,” connectivity, and understanding.
That allows logistics teams to focus on activities that add value and support customers.
The investment comes at a key turning point in Slync’s history, as the team says supply chain and logistics decisions have moved to the forefront amidst the COVID-19 pandemic. They plan to use the Series B round to support their global customer base, make new hires, and expand in Europe and Asia.
“This is a great milestone for us at Slync and a testament to our amazing people and the hard work they have put in to building this company since the beginning,” Chris Kirchner, Slync’s chairman, CEO, and co-founder, said in a statement. “For us, everything starts with our customers and more capital to invest in our global team, accelerate our product development, and grow our service offerings is a big win for all of them.”
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