Logistics technology company Zerobroker recently announced that it has raised a $6.5 million seed round from Flexport, FundersClub, Streamlined Ventures, etc. The company was founded to address the logistical inefficiencies that pervade the freight industry.
By linking shippers directly to truckers, Zerobroker eliminates 100% of freight brokerage fees, which total $300 billion in the US alone. And the platform helps companies lower their freight cost and manage their end-to-end logistics – from creating a shipment, finding, vetting, and booking a truck to managing the payment and paperwork and updating all stakeholders in less than 60 seconds.
Zerobroker centralizes and automates the time-consuming and repetitive tasks performed by logistics and operation teams, including freight management, payments, paperwork, supply chain operations, communication, etc.
Since the company launched its product in February 2022, Zerobroker has been growing 50% month-over-month, has no churned customers, and serves customers ranging in size from venture-backed startups to SMBs and mid-sized manufacturers to public companies. And Zerobroker was part of YCombinator’s W21 cohort.
KEY QUOTES:
“I’ve seen everyone from startups to Fortune 500 teams spend entire days reaching out to brokers to get quotes, managing loads with very limited visibility, chasing paperwork, and managing both suppliers and customers, all manually. And on top of that, freight brokers charge 20-30% commission for every transaction. Our platform helps logistics and operations teams to cut 100% of freight brokerage fees and automate up to 90% of repetitive tasks.”
— Georgy Melkonyan, Founder and CEO of Zerobroker; Melkonyan holds a Ph.D. in transportation engineering and spent over 15 years solving logistics problems both for shippers and carriers globally.
“Logistics is the backbone of any economy and it affects every single product and service that exists. But the industry is still far behind in terms of technology adoption and innovation when compared to other industries. Most of the startups in the industry are trying to optimize some aspect of logistics. Zerobroker completely redesigns the logistics from the ground up by bringing all disconnected parts of the logistics industry into one platform, automating most repetitive tasks and challenging the industry’s status quo with their ‘no-broker’ innovation.”
“Georgy brings a rare blend of 15 years of logistics experience and coupled with a Ph.D. in transportation engineering. We don’t think there is anyone else in the world that can speak to the pain points of industry and being able to build a world-class product to address them like Georgy can. We’re thrilled to be a part of their journey.”
— Ullas Naik, General Partner at Streamlined Ventures
