PALO ALTO, CA, and ATLANTA, GA UNITED STATES, July 19th, 2022 /EINPresswire.com/
Vizion, an API-based solution for ocean freight visibility, announces it has raised a $14 million Series A round led by Samsung Venture Investment Corporation (SVIC) with participation from Maersk Growth and Valuestream Ventures. In addition, existing investors Tech Square Ventures, Revolution’s Rise of the Rest Seed Fund, MS&AD, 1984 Ventures, and SaaS Ventures from Vizion’s 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 investment in human capital.
“Our investment in Vizion is consistent with our strategy to work closely with established market leaders,” says a representative of SVIC. “Vizion is a technology leader and has built a significant business in the logistics space. The company has demonstrated both a technical and business vision in driving adoption of [advanced logistics intelligence] and we look forward to contributing to the progress of Vizion.”
Founded on the principle that ocean visibility data is challenging to access and work with, Vizion solves these issues for various applications and data needs. Vizion’s promises of making the highest quality and easiest to access/ingest container milestones and port data affording businesses to quickly integrate existing Vizion solutions within systems already in the tech stack or develop new technology solutions on top of clean, enriched, standardized data. 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.
"Supply chain decisions should be data-driven, and visibility is a key component hereof," says Peter Votkjaer Jorgensen, Partner at Maersk Growth. "At the core of creating actionable insights is data quality and easy access. We're very excited about Vizion's relentless focus on that and how we can collaborate on future solutions."
Vizion’s data solutions will continue to change the industry—its customer base of leading freight forwarders, BCOs, and TMS providers expect to manage over 150 million shipment tracking events using the Vizion platform in 2022. This next round of funding allows Vizion’s continued investment in new data sources, expanding our partnership network and the launch of our live monitoring of global container logistics for real-time decision-making, VIZION Analytics Stream.
"Supply chain visibility is hugely important given the state of the world today. This is true for companies of all sizes, across numerous use cases.” says Josh ElwellPartner, ValueStream Ventures. “Vizion is cultivating high quality data and delivering it through easy, flexible integration options. ValueStream is excited to support a company that we believe will increasingly be a key component of systems and processes across the industry."
“The team and I are excited to accelerate our product expansion and partner ecosystem to meet the ever-increasing need for technology driven, high-quality freight visibility. Our product catalog will continue to expand into advanced visibility at key interchanges such as port terminals and drayage hand-offs, as well as launching new to the industry data lake products. Additionally, our network of partnerships will continue to expand and deliver greater in-depth visibility to companies of any size and any stage in their digital transformation.” 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.
About Vizion Investors
Samsung Venture Investment plays the role of driving the discovery and development of new businesses and technologies. As Samsung Group's venture investment arm, we aim to promote an open innovation environment. In a globalized world we need to anticipate new global challenges and support the creation of new industries that can surpass our past results.
Maersk Growth is the Venture Arm of A.P. Moller–Maersk – with the mission to digitise, democratise and decarbonise the Supply Chain. They unlock Growth by investing and partnering with talented startups, scaleups, and visionary innovators. Maersk Growth activates their portfolio companies' full strategic potential and generates value for A.P. Moller-Maersk by leveraging their core capabilities.
ValueStream Ventures is a thesis-driven venture firm. Our current thesis is that valuable data and supporting infrastructure can create defensible businesses with more capital efficient scaling. We look for teams that understand how to generate and leverage proprietary data into scalable B2B platforms.
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