# New York Shipping Exchange

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/new-york-shipping-exchange

- Industry: Logistics & Distribution
- Headquarters: New York, US
- Website: www.nyshex.com/
- Total disclosed funding: $38M
- Latest round: Series C (Nov 19, 2024)
- Investors on record: 10

## About

New York Shipping Exchange, Inc., based in the US, operates a digital platform that enhances decision-making and efficiency within the ocean supply chain, addressing the complexities of global shipping through real-time data and analytics.Founded in 2014 in New York, New York Shipping Exchange, Inc. specializes in providing a digital platform for the ocean supply chain. The company has completed a total of 8 deals, with its most recent funding round occurring on November 19, 2024, where it raised USD 25.00 mn in a Series B round led by Collate Capital, with participation from other notable investors including Goldman Sachs Merchant Banking Division and NewRoad Capital Partners. The firm is co-founded by Gary Downes and Mark Michaels, who have a history of involvement in technology-driven ventures.NYSHEX's primary offering is its digital platform designed to enhance the ocean supply chain through improved decision-making and operational efficiency. The platform leverages real-time data and analytics to address the unpredictability inherent in global shipping, enabling clients to mitigate disruptions and optimize their logistics operations. With a focus on elevating ocean performance, NYSHEX provides tools that empower users to synchronize their shipping volumes and costs with planned metrics. The end users of this platform include logistics managers, supply chain professionals, and organizations operating within the global shipping sector across various geographical markets, including North America, Europe, and Asia-Pacific. The software solutions aim to enhance collaboration among partners and provide actionable insights derived from direct-sourced carrier data, improving overall supply chain reliability.NYSHEX operates on a transaction-based revenue model, primarily deriving income through subscriptions and partnerships with businesses engaged in global shipping. Clients utilize the platform to access data-driven metrics and notifications that improve their operational efficiency and effectiveness. The transaction structure facilitates direct engagement between NYSHEX and its clients, which include shipping companies, freight forwarders, and logistics service providers. While specific pricing details for individual products or services are not disclosed, the company's offerings are positioned to deliver significant return on investment through enhanced collaboration and performance tracking. This strategic emphasis on ocean supply chain management enables NYSHEX to establish itself as a critical partner for firms seeking to navigate the complexities of international shipping.In November 2024, New York Shipping Exchange, Inc. raised USD 25.00 mn in Series C funding led by Collate Capital, with participation from returning investors Goldman Sachs Asset Management and NewRoad Capital Partners, alongside new investor Intercontinental Exchange, Inc. The company plans to utilize this funding to expand its market reach. Additionally, there are initiatives underway to enhance their product offerings and target new geographical regions for growth.

## Funding rounds

- Series C, Nov 19, 2024 — Blumberg Capital, Intercontinental Exchange, Inc., Goldman Sachs Asset Management, NewRoad Capital Partners, Collate Capital
- Series B, Jun 20, 2022, $25M — Blumberg Capital, Goldman Sachs Asset Management, NewRoad Capital Partners, Collate Capital
- Series A, Aug 21, 2017, $4.5M — Goldman Sachs Asset Management, CMA CGM, Hapag-Lloyd AG, On Grid Ventures, GE Ventures
- Series A, Mar 21, 2017, $8.5M — Blumberg Capital, Goldman Sachs Asset Management, GE Ventures, Tectonic Capital

## Investors

- Blumberg Capital (https://capitalatlas.ai/funds/blumberg-capital) — Series A, Series B, Series C
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series A, Series B, Series C
- GE Ventures — Series A
- Tectonic Capital (https://capitalatlas.ai/funds/tectonic-capital) — Series A
- CMA CGM — Series A
- Hapag-Lloyd AG — Series A
- On Grid Ventures (https://capitalatlas.ai/funds/on-grid-ventures) — Series A
- NewRoad Capital Partners (https://capitalatlas.ai/funds/newroad-capital-partners) — Series B, Series C
- Collate Capital (https://capitalatlas.ai/funds/collate-capital) — Series B, Series C
- Intercontinental Exchange, Inc. — Series C