Vilnius, Lithuania-based GoRamp, a cloud-based Transportation Management Software that helps shippers source, plan and monitor freight logistics, announced that it has raised €1.5M in a fresh round of funding.
The investors in this round include international venture capital funds and the community of business angels/founders from such companies as UPS, Shopify, and Infoscout.
Capital utilisation
The funds will be used mainly to expand the company’s sales and marketing team for Western Europe and the US markets. GoRamp says the investment will be targeted to increase business volumes in Europe, where it claims that its product sales are already showing promising results in the UK, Benelux, Poland, and Germany.
Besides, the funds will also help the company enter new markets, including France, Spain, and Italy, and gain more traction in the US region.