Provides a logistics platform that uses AI-driven data extraction and integration to centralize and standardize fragmented supply chain and financial data. It automates 99% of freight and parcel audits, carrier payments, and accounts payable/receivable processes, reducing manual workload, improving cost visibility, and unlocking significant transportation savings for shippers and 3PLs.
Funding
$100.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+1Founders
Product
Problem
Shippers and 3PLs face challenges in managing transportation costs due to fragmented supply chain data, manual audit processes, and lack of integration between accounts payable and receivable systems. This leads to errors, missed savings opportunities, and inefficient financial operations.
Solution
Loop provides a logistics platform that leverages AI-driven data extraction and integration to centralize and standardize supply chain and financial data. The platform automates freight and parcel audits, carrier payments, and accounts payable/receivable processes, reducing manual workloads and improving cost visibility. By connecting data across various modes and sources, Loop enables users to unlock insights, optimize transportation networks, and improve margin management. The system facilitates proactive spend management, automates billing decisions, and offers customizable quick pay options for carriers.
Target Audience
Loop targets shippers seeking to improve cost management and uncover network insights, as well as 3PLs aiming to automate financial decisions and improve margin.
Features
- AI-powered data extraction and management to centralize transportation and financial data
- Automated freight and parcel audit, automating 99% of audits
- Integrated AP and AR automation for streamlined billing decisions
- Carrier invoice pay with options for customizable quick pay
- Cost management and allocation to understand landed costs
- Supply chain and spend intelligence to unlock cost, team, carrier, and network insights
- Multi-modal margin management for both freight and parcel
- Carrier portal for self-service payment status