Transportation and warehousing are multi-trillion-dollar industries, but the technologies that power them are often outdated, inefficient, and siloed. Pallet, which is announcing an $18 million Series A funding round led by Bain Capital Ventures today, has built an all-in-one transportation and warehouse management system that uses AI to help these businesses streamline their operations from order entry to dispatching drivers, managing inventory, and accounting.
Pallet CEO and co-founder Sushanth Raman was an early engineer at low-code startup Retool before he left to start his own company, together with his co-founder — and fellow Retool engineer — Andrew Spencer. Both actually have family in the logistics business. Raman’s grandfather was in this shipping business while Spencer’s father runs the engineering team at transportation management company MercuryGate.
That, however, wasn’t actually what got Raman into this space, he said (though I’m sure it helped). Instead, it was meeting with different logistics businesses around the Bay Area and realizing how much of the work was still being done manually. Sometimes, half the employees in a logistics company are tasked with back-office work and customer support.
“Logistics is a massive industry. It’s trillions and over $30 billion is spent on these software systems known as transportation and warehouse management systems,”
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