Catena announced it has raised $5 million in a seed funding round. This round was led by Floating Point and saw participation from several noteworthy investors, including Shaper Capital, Teamworthy, Plug and Play, SpringTime Ventures, Liquid 2, Blue Moon, and Blue Impact Supply Chain Ventures. In addition to these investors, more than 20 prominent logistics executives from companies such as Augment, Fillogic, FreightWaves, OTR Transportation, Reliance Partners, TalentSolvers, and TruckSmarter have also joined in the investment. With this funding, Catena has raised a total of $8 million since its inception in January 2024, positioning itself as a frontrunner in freight data infrastructure.
The company was founded by three industry experts who bring a wealth of knowledge and experience from various sectors, including finance and technology. Jeremy Baksht, who has held senior positions at Walmart, Bloomberg, and Citigroup, leads the team alongside Travis May, a co-founder and former CEO of Datavant and LiveRamp, who currently serves as CEO of Shaper Capital. The third co-founder, Mike Goynes, previously served as the data officer at Interos and Optoro. Together, their extensive backgrounds make them exceptionally well-suited to develop a robust data layer tailored for the freight industry.
One of Catena’s primary missions is to address the fragmented nature of freight data. For years, critical freight services have faced the challenge of working with a disorganized carrier base, resulting in data scattered across countless systems. Often, this data is inconsistent, incomplete, or hard to access. The lack of clean and connected data prevents these services from scaling efficiently, resulting in significant financial repercussions that leave billions of dollars in freight transactions lacking complete visibility.
To overcome this challenge, Catena offers a single, modern API that delivers comprehensive fleet telematics. This service allows partners to access both real-time and historical truck data through a seamless integration process. Catena’s API is already compatible with thousands of fleets, empowering a range of customers, including insurers, brokers, fuel card providers, and fintech companies, to create scalable solutions within the multi-billion-dollar freight markets. Currently, Catena connects over 300,000 vehicles and serves clients such as Truckstop, PortPro, and Tread.
Catena distinguishes itself by providing clean, permissioned, first-party data that various stakeholders—brokers, shippers, fintech firms, and insurers—can rely on for essential functions like payments, insurance, risk management, and compliance. By normalizing fragmented data from numerous sources into a single, reliable platform, Catena is building the foundation for advanced artificial intelligence applications in the freight sector. This includes automating tasks such as managing exceptions and reconciliations, as well as enhancing predictive modeling capabilities.
How the funding will be used: The funding will facilitate accelerated product development for Catena. It will also enable the company to expand its integrations with telematics and logistics data providers, further enhancing its partnerships with brokers, shippers, insurers, and fintech firms. These strategic initiatives aim to broaden the range of services that Catena’s platform can provide, encompassing areas like payments, insurance, fraud detection, compliance, and AI-driven operational tools. Through these efforts, Catena is set to reshape the future of freight data integration, providing valuable resources that will drive efficiency and innovation in the logistics industry.
KEY QUOTES:
“Operational and identity data are the backbone of efficient and secure carrier and broker workflows. Catena is setting the standard for how this data should be connected, and we’re thrilled to grow our partnership.”
Customer Sean Dehan, Vice President of Corporate Strategy at Truckstop
“AI promises a lot, but it can only be as good as the data it runs on. The hard part isn’t spinning up a flashy model. It’s ensuring clean, authorized access across hundreds of siloed, permissioned sources. What customers need, and what Catena provides, is reliable, first-party data that lets AI actually see the supply chain clearly and unlock real efficiency.”
Jeremy Baksht, Catena co-founder and CEO
“Freight runs on data, but it’s siloed. Unlocking it requires trust and aligned incentives. Carriers need access to modern fintech and brokerage solutions, and those services need seamless access to the fragmented carrier market. Already trusted by the major platforms, Catena is fast emerging as the default data infrastructure for the industry.”
Eddie Segel, co-founder and General Partner at Floating Point
“Knowing where your goods are is foundational to running a business, but that information is still locked across thousands of vendors and software systems. Catena is building the universal data infrastructure that lets these systems finally talk to each other, unlocking a wave of tools that make freight and commerce run more smoothly.”
Travis May, Catena co-founder and Chairman
