# Dray Alliance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/dray-alliance

- Industry: Logistics & Distribution
- Headquarters: Long Beach, US
- Website: www.drayalliance.com
- Total disclosed funding: $35M
- Latest round: Series B (Dec 14, 2021)
- Investors on record: 10

## About

Dray Alliance Inc. provides integrated drayage solutions, merging the operational flexibility of a broker with the reliability of a trucking company to enhance supply chain management for shippers and motor carriers.Founded in 2016 by Hank Cui, Jason Yu, and Steve Wen, Dray Alliance Inc. is headquartered in Long Beach, US. The company specializes in drayage services and has successfully closed 7 deals with its most recent funding round being a Series B raising USD 20.00 mn. The latest funding, which occurred on December 14, 2021, was led by Headline and involved other investors including Craft Ventures, Harpoon Ventures, Karman Ventures, Matrix Partners, and Quiet Capital.Dray Alliance specializes in providing integrated drayage solutions that combine the flexibility of a broker with the accountability of a trucking company. Their core offering includes a platform that enables real-time tracking of containers throughout their lifecycle, allowing clients to access vital data and insights for effective supply chain management. This service primarily targets shippers and motor carriers, facilitating improved visibility into container events via terminal integrations and a user-friendly dashboard. The company employs proprietary automation technology to streamline drayage operations, such as appointment scheduling and load bundling, thereby minimizing demurrage and detention charges for its clients. Dray Alliance operates in key markets across the United States and Canada, providing its services at various port terminals to shippers who require efficient and reliable freight transport solutions.Dray Alliance generates revenue through a multifaceted transaction structure that primarily involves partnerships with shippers and motor carriers. The company operates on a service model that includes transaction fees associated with drayage services, which encompass pricing for container moves, scheduling, and additional operational support. The pricing structure is designed to provide cost savings by negotiating rates directly with carriers, thus simplifying the process for clients. Dray Alliance's flagship services include its technology platform, which integrates with existing systems to facilitate real-time tracking and management of drayage operations. Revenue is derived from the usage of these services, with financial transactions occurring on a per-move basis, thereby ensuring clarity and predictability in pricing for their customer base.In December 2021, Dray Alliance Inc. raised USD 40.00 mn in venture debt funding from JP Morgan Asset Management to support expansion. The company plans to leverage this funding to enhance its operations and reach more markets, with a focus on expanding its services across North America. Specific new products are under design to improve efficiency in supply chain logistics, although detailed release dates have not been specified.

## Funding rounds

- Series B, Dec 14, 2021, $20M — Matrix Partners, Headline, Craft Ventures, Quiet Capital, Karman Ventures, Harpoon Ventures
- Series A, Jun 28, 2021 — FJ Labs
- Series A, Feb 26, 2020, $10M — Matrix Partners, Wonder Ventures, Act One Ventures, Craft Ventures, Karman Ventures
- Seed, Feb 25, 2019, $3.5M — Wonder Ventures, Act One Ventures, Craft Ventures
- Seed, Jul 1, 2018, $1.1M — Ivy Capital, Wonder Ventures, Act One Ventures

## Investors

- Ivy Capital (https://capitalatlas.ai/funds/ivy-capital) — Seed
- Wonder Ventures (https://capitalatlas.ai/funds/wonder-ventures) — Seed, Series A
- Act One Ventures (https://capitalatlas.ai/funds/act-one-ventures) — Seed, Series A
- Craft Ventures (https://capitalatlas.ai/funds/craft-ventures) — Seed, Series A, Series B
- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series A, Series B
- Karman Ventures (https://capitalatlas.ai/funds/karman-ventures) — Series A, Series B
- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A
- Headline (https://capitalatlas.ai/funds/headline) — Series B
- Quiet Capital (https://capitalatlas.ai/funds/quiet-capital) — Series B
- Harpoon Ventures (https://capitalatlas.ai/funds/harpoon-ventures) — Series B