Portex

Automates and simplifies freight procurement process

Hayward, California, United States

About Portex

PortexPro simplifies and automates the process of obtaining short-term freight services in the logistics and supply chain industry. Its platform allows brokers, freight forwarders, and carriers to easily compare spot rates by aggregating quotes and providing benchmarks. This helps users make quick, informed decisions, saving time and offering insights into freight spending. PortexPro operates on a software-as-a-service (SaaS) model, where clients pay a subscription fee to access the platform. The company stands out from competitors by leveraging data and technology to enhance pricing efficiency and transparency in logistics. The goal of PortexPro is to help businesses manage their logistics costs more effectively and tackle complex pricing challenges in the supply chain.

Hayward, CaliforniaHeadquarters
2020Year Founded
$6.1MTotal Funding
SEEDCompany Stage
Data & Analytics, Enterprise SoftwareIndustries
11-50Employees

Risks

Competition from established companies like Flexport could overshadow Portex's market presence.
Rapid AI advancements by larger firms may outpace Portex's development capabilities.
Economic downturns could reduce spending on logistics technology by small businesses.

Differentiation

Portex Pro automates spot freight procurement, saving time and money for shippers.
The platform offers easy and informed spot rate comparisons for brokers and carriers.
Portex Pro's team includes experts from Flexport, Uber, and Morgan Stanley.

Upsides

Portex raised $6.25 million to enhance its freight management technology.
Increased adoption of AI-driven logistics solutions benefits Portex's market position.
The rise of digital freight marketplaces supports Portex's business model.

Funding

Total raised$6.08 M
Latest valuation$31.25 M
StageSEED