Marine startup company Voyager Portal announced it has raised $8.4 million in a Series A business funding round led by Phaze Ventures. New investors ScOp Venture Capital, Waybury Capital, Flexport, and other existing investors, also took part in the business funding round.
Strong Business Growth Recorded in Recent Quarters
Phaze Ventures is an Oman-based venture capital (VC) company that is providing funding for young, innovative startup founders and entrepreneurs to unlock their full potential. ScOp is a VC company that focuses on backing tech and software startup companies in the US.
The latest funding comes after Voyager Portal’s outstanding business growth since it secured $1.5 million in a seed funding round two years ago. Between Q3 2020 and Q3 2021, Voyager Portal’s business sales grew 13 times and increased by 40% since Q2 2021.
The Texas-based marine shipping startup company also announced it hit the $1 billion milestone for freight managed on its platform. The company’s flagship product is actively used by various manufacturers, shippers, and traders across renewable energy, commodity trading, mining, and petrochemicals sectors.
“Voyager Portal was created to significantly reduce cost, risk, and complexity when transporting bulk materials around the world. 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,” said Matthew Costello, co-founder and chief executive of Voyager Portal.
With Voyager Portal’s low-code architecture, its business customers are able to easily tweak the platform to meet their business needs. This allows the marine startup company to be uniquely positioned in a market dominated by inflexible traditional systems.
Voyager Portal’s platform was developed from scratch in a bid to enable companies and business organizations to conveniently collaborate in real-time. This kind of unified structure allows collaborators to easily manage, track, and analyze shipments with improved context and insight.
“With our Series A funding, we’ll be able to expedite our product roadmap to support an international client base whilst expanding our engineering, development, marketing and sales teams internationally,” Costello added.
The startup company allows users to customize their workflow, collect key information, and easily track shipments around the globe. Ultimately, the productivity is significantly boosted, according to Kevin O’Connor, the managing partner at ScOp Venture Capital.
“Voyager is changing the way companies are thinking of their global shipping operations,” said Abdullah Al-Shaksy, co-founder and CEO of Phaze Ventures.
The marine startup company was founded in 2018 by industry veterans Matthew Costello and Bret Smart who identified a huge gap in the sector. Countless inefficiencies and lack of data-driven decision-making prompted two business executives to create a new company.
Today, the startup company’s team consists of industry professionals and technology veterans who strive to advance their customers toward zero waste and transparent marine supply chains.
Voyager Portal, a tech startup company that develops a workflow and analytics platform for marine transportation, announced that it secured $8.4 million in a Series A business funding round led by Phaze Ventures.