Forager Raises $10M for Shipping Logistics Platform

Ellen Glover
March 26, 2020
Chicago-based Forager raised $10 million in Series A funding for its shipping logistics platform
Photo: Forager

Forager, a Chicago-based logistics startup, announced Thursday it raised $10 million in Series A funding. The round was led by U.S. Venture Partners, a Silicon Valley firm that has also invested in companies like Box and Trunk Club, with participation from Chicago Ventures and Soma Capital.

Recently named one of Built In Chicago’s 50 Startups to Watch in 2020, Forager works with both carriers and shippers to make international shipping easier. SCOUT, the company’s platform, allows businesses to book, track and manage billing for any shipment between the United States, Canada and Mexico. The company also hinted in its announcement that an updated version of SCOUT will be released this spring.

This $10 million, along with a $3.25 million seed round the company closed last September, brings Forager’s total funding raised to $14.5 million. The money will be used to grow its engineering and product teams to further develop the platform.

“We’re excited to ramp up development and grow the team,” CEO and co-founder Matt Silver said in a statement. “We’ve accomplished so much operating as a very lean, very scrappy startup. I couldn’t be prouder of how far we’ve come, but now the gloves are off. Now we can really go big.”

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