Vilnius, Lithuania-based GoRamp, a cloud-based Transportation Management Software that helps shippers source, plan, and monitors freight logistics, announced that it has raised €1.5M in a fresh round of funding.
The investors in this round include international venture capital funds and the community of business angels/founders from such companies as UPS, Shopify, and Infoscout.
The funds will be used mainly to expand the company’s sales and marketing team for Western Europe and the US markets.
GoRamp says the investment will be targeted to increase business volumes in Europe, where it claims that its product sales are already showing promising results in the UK, Benelux, Poland, and Germany.
Founded in 2017 by Jevgenij Polonis, Marius Repecka, and Ugne Palionyte, GoRamp has a SaaS solution for shippers to help them make proactive decisions while sourcing, monitoring, and analyzing transportation management.
The company’s software covers real-time shipment planning to multiple destinations, communication with carriers and stakeholders, dock scheduling, warehouse and yard management, and KPIs tracking.
According to the data provided by GoRamp clients, the system eliminates 70 percent of operational work, increases 20 percent of warehouse loading efficiency, and decreases up to 25 percent logistics costs.
In 2021, GoRamp reported that its business volumes tripled. Now the company operates in 18 different countries, not only in Europe but also in the US, Canada, and Australia.
The number of GoRamp customers grew by 2.5X and the company is already trusted by some of the leading global companies, including Pfizer, Thermofisher Scientific, Continental, Mondelez, and Storenso, among others.
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