Dray Alliance Receives $3.5 Million Investment

Dray Alliance has received $3.5 million in investment financing from David Sacks’ Craft Ventures, according to a company news release.

Dray Alliance, an on-demand drayage company for import and export shippers and enterprises, previously has partnered with large shippers such as Mattel and global shipping companies CMA CGM Group, using the alliance’s mobile technology. The technology connects drayage truckers with shippers, ocean carriers and freight forwarders.

Drayage is the most neglected area of the transit supply chain, and the nuances of drayage create challenges and opportunities that are different from other trucking segments such as truckload and less-than-truckload, according to Craft Ventures General Manager Jeff Fluhr.

The drayage industry still depends on e-mails and spreadsheets for its daily operations, leading to inefficiencies that result in lower earnings for truckers, less predictability in delivery times and 20%-50% increases in the cost of freight deliveries for shippers, according to Dray Alliance CEO Steve Wen.

Dray Alliance wants to bring “Uber-like, airport pickup efficiency” to the drayage industry by providing a mobile experience, more predictability in delivery time, and better economics for shippers, carriers and truckers, Wen said in the news release.

Dray Alliance was founded in 2016 and is based in Lakewood, Calif. — Transport Topics