About Raft
Raft is a company based in London (United Kingdom) founded in 2017 by Nisarg Mehta and James Coombes. It operates as a AI-as-a-Service, and SaaS (Software-as-a-Service). Raft has raised $30 million across 1 funding round from investors including Bessemer Venture Partners, Eight Roads Ventures and Episode 1 Ventures. The company has 12 employees as of January 31, 2021. Raft offers products and services including AP Invoices, Customs Entries, and Operations. Raft operates in a competitive market with competitors including WiseTech Global, Kale Logistics Solutions, Magaya Corporation, GoComet and RXO, among others.
- Headquarter London, United Kingdom
- Employees 12 as on 31 Jan, 2021
- Founders Nisarg Mehta, James Coombes
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Vector Ai Ltd
- Date of Incorporation 14 Nov, 2017
- Jurisdiction LONDON, ENGLAND
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$30 M (USD)
in 1 rounds
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Latest Funding Round
$30 M (USD), Series B
Jul 10, 2023
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Investors
Bessemer Venture Partners
& 5 more
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Employee Count
12
as on Jan 31, 2021
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Products & Services of Raft
Raft offers a comprehensive portfolio of products and services, including AP Invoices, Customs Entries, and Operations. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Accounts payable invoices are processed automatically for efficiency.
Customs declarations are prepared with speed and accuracy.
Operational workflows are automated to save team time.
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Funding Insights of Raft
Raft has successfully raised a total of $30M through 1 strategic funding round. The most recent funding activity was a Series B round of $30 million completed in July 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series B — $30.0M
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First Round
First Round
(10 Jul 2023)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2023 | Amount | Series B - Raft | Valuation | Eight Roads Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Raft
Raft has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Bessemer Venture Partners, Eight Roads Ventures and Episode 1 Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investment and global platform support for startups.
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Founded Year | Domain | Location | |
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Venture capital investments and support for entrepreneurs in technology and innovation sectors.
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Founded Year | Domain | Location | |
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Seed & early-stage tech-focused venture capital firm
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Raft
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Raft
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Raft Comparisons
Competitors of Raft
Raft operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as WiseTech Global, Kale Logistics Solutions, Magaya Corporation, GoComet and RXO, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based logistics software suite is provided for supply chain management.
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| domain | founded_year | HQ Location |
Cloud-based platforms for logistics, ports, and trade facilitation are provided.
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| domain | founded_year | HQ Location |
Cloud-based supply chain and logistics software is offered to businesses.
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| domain | founded_year | HQ Location |
AI-powered multimodal logistics platform for end-to-end supply chain digitization
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| domain | founded_year | HQ Location |
Cloud based platform providing freight forwarding solutions
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| domain | founded_year | HQ Location |
Cloud-based freight forwarding and logistics management solutions are offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Raft
Frequently Asked Questions about Raft
When was Raft founded?
Raft was founded in 2017 and raised its 1st funding round 6 years after it was founded.
Where is Raft located?
Raft is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Raft?
James Coombes is the current CEO of Raft. They have also founded this company.
Is Raft a funded company?
Raft is a funded company, having raised a total of $30M across 1 funding round to date. The company's 1st funding round was a Series B of $30M, raised on Jul 10, 2023.
How many employees does Raft have?
As of Jan 31, 2021, the latest employee count at Raft is 12.
What does Raft do?
Raft is established as a pioneering platform in AI-driven logistics solutions. The company is focused on automating workflows for freight forwarders and customs brokers. Operations, customs entries, and accounts payable processes are streamlined through advanced AI technologies. Integration with existing systems like ERPs and TMS is provided for seamless data management. Serving industries such as automotive, pharmaceutical, and retail, Raft is utilized by global supply chains. Efficiency, growth, and customer value are enhanced across the shipment lifecycle. The platform is customized to meet unique business needs in over 45 countries.
Who are the top competitors of Raft?
Raft's top competitors include WiseTech Global, Kale Logistics Solutions and GoComet.
What products or services does Raft offer?
Raft offers AP Invoices, Customs Entries, and Operations.
Who are Raft's investors?
Raft has 6 investors. Key investors include Bessemer Venture Partners, Eight Roads Ventures, Episode 1 Ventures, Dynamo Ventures, and Moguntia Capital.
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