WARP Closes First Operational Year with a total of $8.1M in Funding to Enable the Future of Commerce Through Tech Connected Supply Chain
/After emerging from stealth mode in February 2022 with a seed round of $2.4M, new investors contribute additional $5.7M in December ‘22
Los Angeles, CA, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Today WARP, a tech-powered freight network specializing in middle-mile solutions, announced an additional $5.7M in funding to bring its total to $8.1M for its first operational year, 2022. LA-based venture capital firms MaC Venture Capital, Bonfire Ventures, and Frontier Venture Capital contributed to this follow-on round with additional contributions from some of WARP’s previous investors. WARP emerged from stealth mode in February, 2022 with a $2.4M seed round to digitize the old school trucking model and create the most efficient routes for middle-mile freight. This follow-on round of funding will allow WARP to scale their network and tech platform to further automate traditional supply chain “hacks” that were previously done manually.
Today’s shippers operate in a volatile environment. Between inflation, ongoing Covid spikes, and fluctuating transportation costs, it can be extremely difficult to manage a complex supply chain. Whenever a shipper's volume goes up or down, they need to readjust their logistics strategy which decreases efficiency and increases cost. WARP takes existing supply chain solutions and provides real-time optimization based on dynamic demand while removing manual processes for shippers, carriers and back-office teams.