Pallet Raises $18 Million Series A to Revolutionize Logistics Software

Pallet, a game-changing logistics software company, has just secured $18 million in Series A funding, led by Bain Capital Ventures. Bessemer Venture Partners and Activant Capital also hopped on board, with a group of angel investors, including some heavy hitters like Dutchie CEO Tim Barash and Toast founders Aman Narang and Steve Fredette. This new funding brings Pallet’s total raise to $21 million—quite a leap for a company launched just last year.

But let’s be real—logistics isn’t exactly what comes to mind when you think "sexy tech." It’s more like the behind-the-scenes hero of everyday life. Whether it’s getting your couch delivered or keeping car prices from skyrocketing due to supply chain hiccups, logistics is crucial.

Yet, it’s an industry that’s still stuck in the past, relying on outdated, clunky software. Enter Pallet, which aims to bring logistics software into the modern era with its unified transportation and warehouse management platform.

CEO Sushanth Raman, whose estimated net worth is somewhere around $20 million (and climbing), co-founded Pallet with a vision to automate and streamline what’s typically a very manual and error-prone process.

He said in an official statement:

“We started Pallet to bring logistics software into the 21st century,”

His inspiration?

Spotting inefficiencies in software while working at Retool with co-founder Andrew. They figured if they could fix software for developers, why not take that thinking to the logistics world?

Pallet’s AI-powered platform integrates transportation, warehousing, and billing, cutting down manual tasks by up to 70%. The average user spends over six hours a day on the platform, saving time and money for companies like BLK Out Logistics and Victory Final Mile.

And the company’s not slowing down. Pallet plans to expand its offerings to larger logistics companies and grow its team. After all, in a $20 billion market, there’s a lot of road ahead.