We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • ProMat 2023
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • ProMat 2023
    • Upload Your Video
Home » NYSHEX Closes $25 Million Series B to Improve the Reliability and Efficiency of Global Shipping In
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

NYSHEX Closes $25 Million Series B to Improve the Reliability and Efficiency of Global Shipping In

September 14, 2022
No Comments

NEW YORK, NY - September 14, 2022 – NYSHEX, the leader in ocean contract performance technology, announced a $25 million Series B funding round led by Collate Capital. In addition, Blumberg Capital, Goldman Sachs and NewRoad Capital participated, bringing the company's total funding to $69 million.

The global supply chain disruption has highlighted the need to digitally transform legacy processes. Ocean contracting traditionally relies on static tools that fail to meet the needs of the industry, leading to poor performance and disrupted logistics. With 80% of global trade relying on ocean freight shipping, increasing reliability in an uncertain market is critical for supply chain leaders.

NYSHEX’s integrated platform provides a seamless and modern way to manage global commerce, reducing the likelihood of missed deadlines and lost revenue. By bringing together multiple data systems across all parties, the platform provides a shared source of truth for contract fulfillment and performance, improving reliability and creating efficiencies.

“I’m really proud of the NYSHEX team for working tirelessly to build our technology which acts as the digital infrastructure that global shipping industry leaders now rely on every day,” said Gordon Downes, CEO of NYSHEX. “We’re all very passionate about our mission to enable more reliable shipping and at the same time to strengthen the relationships between shippers, carriers and NVOCCs. The additional $25 million investment allows us to accelerate the development of our integrated technology platform, which provides a shared system of record for the industry. Lastly, as part of this funding round, I am very excited to announce that Mark Weaver, Managing Director of Collate Capital, will join our board of directors.”

NYSHEX will use the capital to accelerate the development of its technology platform that provides shippers, carriers and NVOCCs with a reliable, efficient and trusted system of record. NYSHEX for Carriers harmonizes contract and performance data into one single version of the truth that gives shippers and carriers the power to keep track of what they’ve agreed to and how each party performs. NYSHEX has also recently introduced a product specifically for NVOCCs to monitor the performance and allocation of their customers in order to deliver on their agreements with their carrier partners.

As part of the NYSHEX for Shippers solution, a new allocation management tool has been launched to allow shippers to proactively manage all of their ocean contracts in one central dashboard, enabling them to drive better performance across their entire contract portfolio. It provides new visibility, control, and automation to an often manual and outdated process.

Additionally, NYSHEX is actively developing a payment and credit offering with strategic partners to further enhance the Powered by NYSHEX ecosystem; it is expected to be available in the coming months.

“Uncertainty and rising costs are systemic issues plaguing the ocean freight industry,” said Mark Weaver, Managing Partner of Collate Capital. “With NYSHEX’s innovative platform, the industry finally has a way to ensure that ocean commerce delivers as expected. We’re delighted to lead this round and support a technology that meets the needs of the entire shipping industry.”

Over 190 BCOs, 130 NVOs, and 7 carriers across the globe are already using NYSHEX to power their ocean contracts, including PVH, Serena & Lily and Staples. Find out more about NYSHEX’s integrated platform here.

https://vimeo.com/744182884?embedded=true&source=video_title&owner=161207730
Submit your logistics, material handling, or supply chain related company news in DC VELOCITY's Industry Press Room section or New Products section
Technology
KEYWORDS NYSHEX
    • Related Articles

      Dray Alliance to Transform Container Shipping at US Ports with $40 million Series B Funding

      Scandit Raises $30M in Series B Led by GV to Bring the Internet of Things to Everyday Objects

      ORO Raises $25 Million in Series A Funding to Reimagine Procurement

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Logistics pay remains high, but job satisfaction dips

    • Schneider National opens innovation center at Wisconsin headquarters

    • FedEx trims costs again with plan to shut 29 locations in its less-than-truckload division

    • DHL Supply Chain will expand Locus Robotics fleet to 5,000 AMRs

    • Ocado plans to grow automation beyond grocery sector with 6 River Systems acquisition

    Now Playing on DCV-TV

    4cd1b546 9bdb 4b5e 9eaa 10bc1c4f367d

    The Robotize GoPal Autonomous Mobile Robot (AMR) Solution at Kärcher

    DCV-TV 4: Viewer Contributed
    Kärcher is a German global leader within cleaning products for both professional and home use. The company recently expanded its production capacity in Europe with the construction of a second factory in Romania. With two large factories in operation and a looming labor shortage, Kärcher began looking for a way to...

    FEATURED WHITE PAPERS

    • Exploring Customized Forklift Solutions

    • Exploring the Future of Labor Management With Capacity Planning

    • Three layers of forklift safety: Promoting operating best practices

    • The Complete Guide to Automated Packaging

    View More

    Subscribe to DC Velocity Magazine

    GET YOUR FREE SUBSCRIPTION
    • SUBSCRIBE
    • NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing