Logistics scheduling software startup Veyor Digital has raised $2.75 million in a pre-Series A with its eyes on US market expansion.
The round was led by Sydney VC Investible via its Early Stage Fund 2 alongside members of its Club Investible syndicate and other angel investors, as well as Aconex cofounders Leigh Jasper and Rob Phillpot’ via their family offices Saniel Ventures and Gravel Road Ventures.
Veyor is a software platform that simplifies delivery and material management for loading docks and construction sites to cut congestion and delays, and prevent unauthorised access, and miscommunication. It allows construction supervisors and loading dock managers to streamline schedules and communications with suppliers, deliverers and onsite teams.
Cofounders Stephen Rockett and Richard Fifita, a civil engineer working in construction, launched Veyor in 2018, initially with support from the NSW government’s MVP grants program.
The new funds are earmarked to ongoing expansion in Australia and North America, with a focus on go-to-market and sales operations. Veyor has more than 80 leading construction and facilities management operators on the books, including Turner Construction, Skanska, Lendlease, Westfield and JLL.
CEO Richard Fifita said they’d recently signed a deal with New York’s JFK International Air Terminal, supporting loading dock operations of one of North America’s most active airport terminals.
“We’re excited about the early traction we’ve built in the US market, and the continued strength of customer relationships in the ANZ region,” he said.
“This capital injection will allow us to hopefully replicate the same success we’ve had in Australia in the US and start to scale our business internationally.”
In Melbourne, Vicinity Group uses Veyor for its loading docks at the Chadstone Shopping Centre in Melbourne. Centre operations manager, Michael Green is impressed with the results and the team.
“The level of support and willingness to adapt the system to suit our requirements has been outstanding. The Veyor system has been a game changer for safely managing our loading dock,” he said.
“We have also received positive feedback from our regular delivery drivers. I would highly recommend Veyor to anyone looking for a dock management system.”
Investible chief investment officer Charlie Ill is also a fan of the software solution.
“Veyor’s streamlined approach to the core of logistics management saves managers hours per day, freeing them for much higher-value work,” he said.
“Richard and Stephen have built a much-needed, user-friendly product that has seen great traction in key markets in the US and Australia, and Investible are excited to help the team unlock another phase of growth.”
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