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Ship Angel Raises $5M, Expands AI-Powered Operating System for BCO Shippers

Announces two AI-powered modules, Contract Amendment Guard and Invoice Audit, to optimize supply chain performance, provide time and cost savings, and improve data accuracy.

NEW YORK, June 11, 2024 – Ship Angel Inc., a transformative AI-native platform for international shippers, has secured $5M in funding co-led by Glasswing Ventures and newark venture partners (nvp), with participation from Bienville Capital, Socii Capital, and Plug and Play. This capital supports the expansion of Ship Angel’s ocean and air freight Rate Management Platform, including the launch of two groundbreaking AI-powered solutions designed to optimize beneficial cargo owners’ (BCOs) workflows. The solutions were unveiled today at the Plug and Play Silicon Valley June 2024 Summit.  


Ship Angel acquires WaySync, launches an intelligent rate management platform for global shippers

Easy-to-implement SaaS ocean rate tool for shippers tackles new normal of container rate complexity.

New York, July 17, 2023 - Ship Angel Inc., a SaaS start-up building a suite of digital logistics tools for BCO (beneficial cargo owner) shippers in North America, today announces the launch of a revolutionary, AI-enabled container rate management platform in conjunction with the acquisition of WaySync. 

Ship Angel introduces a SaaS rate management tool for shippers to address the rise in container freight rate complexity. The increasing prevalence of macro events, such as Covid, geopolitical events and severe weather, have greatly amplified the frequency and intensity of market fluctuations in the global supply chain ecosystem, especially in the area of container freight rates. Today, managing shipping rates is a significant pain point for shippers as they work with short term contracts, are forced to dive into the spot market more often, face  greater surcharge variability and find large rate differentials on trade lane port pairs. Additionally, the Ship Angel rate management tool helps reduce ocean carrier invoice issues, another industry pain point.

Cloud-based, AI-powered Ship Angel rate management further distinguishes itself with a modern user interface (UI) and streamlined user experience (UX). Shippers access rate data that has been enriched with valuable insights, providing intelligent “best option” predictions for each shipment. Ship Angel will help shippers save time, reduce costs and increase revenue with easy implementation digital logistics solutions.

New York based WaySync, a start-up logistics technology firm, developed its AI-first tech stack system to improve the management of a broad array of non-standardized ocean rate formats, making all of them available in one platform. Co-founder and CEO of WaySync, Ray Yang said, "I am thrilled to join the Ship Angel team and help bring AI-enabled rate management to global shippers."

“We saw that there was an opportunity to develop a new type of rate management solution for BCO shippers, one that takes advantage of AI and is easy to implement, offering immediate value to shippers. I look forward to bringing our exciting roadmap of SaaS products, currently in the pipeline, to shippers to quickly and effectively streamline their logistics processes,” said Graham Parker, CEO of Ship Angel. 

About Ship Angel

Ship Angel is a new Enterprise SAAS company headquartered in New York City designing logistics technology solutions specifically for BCO shippers in the North American market. The company’s first product is a revolutionary AI-first Rate Management Platform aimed at medium and large shippers. 

Media contact: Carol Lerner, ckl.communications@gmail.com 201-602-7572

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