FRAYT is a technology company.
FRAYT has raised $7.0M across 1 funding round.
FRAYT has raised $7.0M in total across 1 funding round.
FRAYT has raised $7.0M in total across 1 funding round.
FRAYT's investors include Black Ops Ventures, Refinery Ventures.
FRAYT is a technology company building an on-demand delivery platform that connects shippers with vetted carriers for fast, affordable, and reliable last-mile logistics across the U.S.[1][2][3] It serves businesses in sectors like retail, manufacturing, and construction by enabling same-day or scheduled deliveries via a simple web interface, mobile app, or API integration, solving pain points such as inefficient routing, driver shortages, and lack of real-time tracking.[2][4] With a network of over 10,000 drivers in 50+ major markets, rigorous vetting (only 20% pass background and insurance checks), and tools for tracking, alerts, and payments, FRAYT has raised $7M in Series A funding in 2023 to fuel expansion and product innovation, reporting $6.5M in revenue.[1][3]
Founded in 2018 in Cincinnati, Ohio, by a team of experienced logistics professionals including co-CEO Luke Denny, FRAYT emerged from the recognition of fragmented last-mile delivery challenges in an era of rising e-commerce demands.[1][3] The idea crystallized around creating a streamlined platform to match shippers with professional carriers more efficiently than traditional models, leveraging technology for on-demand matching.[1][2] Early traction came from building a vetted driver network and partnerships like Branch for instant payments, which helped attract and retain drivers amid rapid growth; by 2023, this momentum secured $7M in Series A funding led by Refinery Ventures, enabling coverage in over 50 markets.[1][3]
FRAYT rides the explosive growth of e-commerce and same-day delivery expectations, where customers demand real-time tracking and precise windows amid supply chain strains.[2][4] Timing aligns with post-pandemic logistics digitization, as market forces like labor shortages and rising fuel costs favor on-demand platforms over rigid fleets; FRAYT's API and vetting reduce inefficiencies for SMBs and enterprises.[1][4] It influences the ecosystem by enabling sectors like retail and manufacturing to scale last-mile ops cost-effectively, fostering a more agile, tech-integrated logistics network that lowers barriers for nationwide expansion.[3][4]
FRAYT is poised for accelerated growth through ongoing network expansion (already coast-to-coast in major markets) and product enhancements like deeper API integrations and AI-driven optimizations.[2][3] Trends such as autonomous vehicles, sustainability mandates, and hyper-local delivery will shape its path, potentially amplifying its edge via data analytics for predictive routing. As last-mile remains a $150B+ bottleneck, FRAYT's driver-focused model and funding runway position it to capture more share, evolving from regional player to national logistics powerhouse—reinforcing its mission to make professional on-demand shipping accessible to all.[1][3][4]
FRAYT has raised $7.0M across 1 funding round. Most recently, it raised $7.0M Series A in April 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2023 | $7.0M Series A | Black Ops Ventures, Refinery Ventures |