Intelage Announces $3.5 Million Series Seed to Streamline Global Trade Operations
Financing led by Blumberg Capital supports Intelage’s mission of overcoming supply chain obstacles to enable all businesses to participate in global trade
Intelage, a cloud-based global trade management (GTM) and logistics platform, today announced it closed $3.5 million dollars in Seed funding led by Blumberg Capital with participation from Vulcan Capital, amongst others. Intelage’s customer network is currently operating in the U.S., China, Egypt, Indonesia, Korea, and Vietnam.
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To make global trade less complex and more transparent, Intelage’s TradeDesk platform brings all parties involved in the trading process together in one place, consolidating product information, offer negotiation, documents, contract details, and communications in a streamlined user interface. This allows customers to automate manual processes, obtain greater visibility into business-critical decisions, eliminate costly exceptions, and simplify overall trading experiences.
“Having worked extensively in supply chain and logistics, I’ve seen just how disjointed processes can be. Our mission is to make global trade less complex and more transparent for all,” said John Han, founder, Intelage. “Essential aspects of human survival depend on global trade, especially in the agricultural and food & beverage industries. As companies see significant growth, we are helping them remove barriers to get commodities flowing across borders so everyone who is in need can have access.”
Global trade is typically met with complexity and requires several disjointed tools to keep trade moving. Traders are often overlooked by digitization, yet they have a highly demanding and important task of negotiating trades for millions of metric tons of product a year and must do so using phone calls, text messages, and spreadsheets. Intelage brings together trade suppliers, buyers, and partners to create, track, and manage trades all from within a single application. The funds will be used for future development of the technology, as well as building out the company’s sales team and senior management.
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“The majority of investments and entrepreneurial attention in global trade focuses on operations and logistics, and overlooks upstream levels, including freight forwarders and last mile logistics providers,” said David Blumberg, founder and managing partner, Blumberg Capital. “Intelage will not only bring standardization and workflow automation but will also allow unprecedented analytics to be conducted on historical transactions. In the future, Intelage stands to become a single source of truth for traders to conduct their current business, learn about their past business, and research towards future business.”
Intelage is also announcing the appointment of head of engineering, Dave Fry, who will lead the company’s technological vision and strategy. Fry brings more than 20 years of experience leading teams, managing projects, and directing research and development. Most recently, he was VP of engineering at Premise Data, a data and analytics technology company based in San Francisco, California.
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