Digital technology start-up Voyager Portal has pocketed nearly $10m in cash after a funding round that saw venture capital and technology companies invest further in the outfit.
The Houston software-as-a-service company, which runs a digital supply chain management platform for bulk commodities, said it reeled in $8.4m in a Series A fundraiser.
Oman's Phaze Ventures served as the leading investor in the round, two years after taking part in Voyager's seed funding.
The firm was joined by California-based ScOp Venture Capital and Waybury Capital.
Also throwing down cash on Voyager was Flexport, the San Francisco-based digital freight forwarder that is focused on container shipping.
"It's a reflection of how important our customers are finding that having a really good robust system for managing their supply chains is right now," Voyager chief executive and co-founder Matthew Costello told TradeWinds of the funding round's outcome.
He said the new cash will lead to a major investment in research and development, with an aim toward providing customers not just with supply chain management, but also to make predictions and prescribe solutions.
The latest funding adds to $1.5m in seed money raised by Voyager two years ago, with the investors in that round also participating in the latest drive.
Voyager touts its platform as a way to cut costs, risks and complexity in the marine supply chain for bulk commodities and project cargoes.
The company claims to have increased revenue 13 times in the third quarter, compared to the same period of last year.
Voyager says some $1bn in freight has been managed on its platform by customers that include manufacturers, traders and shippers in the renewable energy, commodities trading, mining and petrochemicals sectors.
Its customers include Austrian energy company OMV and the US-based Global Shippers Association.
"The last two years have demonstrated just how critical shipping bulk commodities is to global markets — freight rates have increased and port congestion is at an all-time high — accelerating the demand for Voyager's solution," Costello said.
Abdullah Al-Shaksy, co-founder and chief executive of Phaze Ventures, said Voyager is changing the way companies are thinking about global shipping.
"Global supply chains are becoming increasingly complex and strained, and there is an incredible treasure trove of data that organisations are underutilising in their decision-making process," he said.
"We believe what Voyager has created for their customers across the globe will revolutionise this space forever."
