Haven has raised a new round of funding, bringing in $11 million to support its freight procurement platform. The latest investment was led by Spark Capital and is being allocated toward expanding the company’s operations in Europe and Asia, bringing on more salespeople and designers, and further developing its offering.
Additional investors include AITV, O’Reilly AlphaTech Ventures, Data Collective, and First Round Capital.
Started in 2014, Haven helps businesses lock down shipping needs across the ocean. It provides a full-service logistics platform that consumer-packaged goods companies, food producers, and commodity traders can use to automate freight procurement. Shippers submit their bids and receive price quotes they can compare from across a variety of carriers. The company said that it is able to save 20 percent on freight costs for small businesses and that for larger firms, the savings could be in the billions.
Haven said that the capital is aimed at shoring up its recently opened European headquarters in Basel, Switzerland. The addition of salespeople will likely be used there to increase market share throughout the region and abroad.
To date, Haven has raised $14 million in venture capital.