Magaya Achieves Double-Digit Revenue Growth With Exceptional Start to 2023
Magaya Corporation, the leading provider of logistics and supply chain automation software, announced an outstanding start to 2023, achieving its ambitious sales goals and delivering strong revenue in the first quarter. The addition of new customers along with unprecedented retention and expansion were the primary drivers of double-digit growth for revenue and EBITDA in Q1.
In January, Magaya announced an investment from Apax Digital, the growth equity arm of global private equity advisory firm Apax, to support continued organic growth, platform enhancements, and strategic M&A.
Faced with the economic uncertainty that marked the start of the year, logistics service providers are seeking ways to operate more efficiently, retain existing customers, and win new business. The Magaya Digital Freight Platform is uniquely positioned to enable businesses to meet all of those objectives and more by way of cloud-based, modular, and integrated automation and digitization solutions.
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Business highlights for Q1 2023 include:
- Added 44 new SMB and enterprise logos to the portfolio of global customers, including powerhouse brands such as Guardian Customs, Horizon Air Freight, and jointly with our reselling partner Tsol, IGS International Cargo
- Appointed industry veteran Jayson Peterson as Vice President of Global Channels and Alliances to further expand the program’s international presence
- Announced strategic technology partnerships with Expedock, Veem, and CargoAi, providing added value to our customers by extending the capabilities of the Digital Freight Platform
- Once again named as one of Inbound Logistics’ Top 100 Logistics IT Providers
- Maintained its coveted Leader spot on the G2 Grid Reports for 3PL, Freight Management, Warehouse Management, and Supply Chain Suites
- Released its new and improved Courier Shipping by Magaya extension, giving Magaya Supply Chain users complete, end-to-end shipping management including label printing and shipment tracking with connections to USPS, FedEx, UPS, and more
“The success of our organic and customer growth during the first quarter has set the stage for a prosperous year at Magaya. With a continued focus on the global SMB market, we begin 2023 with a strong pipeline as our customer footprint continues to grow, expanding in EMEA and APAC,” commented Gary Nemmers, Magaya CEO. “Looking ahead, we have several strategic M&A and product initiatives in the works that we are very excited about bringing to market. 2023 is well underway to be a banner year for Magaya.”
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