Market Overview

DrayNow Raises $5 Million in Series A Financing from Comcast Ventures and Osage Venture Partners

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The Intermodal trucking industry's first technology platform for
freight booking and tracking gains momentum in the hot shipping &
logistics sector

DrayNow, the first real-time marketplace transforming the way Intermodal
shipping brokers connect with available motor carriers, has completed
its Series A funding of $5 million, led by Comcast
Ventures
 and joined by Osage
Venture Partners
.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180828005100/en/

"We're passionate about removing the friction and manual processes from
this niche of transportation that has struggled to innovate," said Mike
Albert, founder and CEO of DrayNow. "Every stakeholder within the
intermodal supply chain is asking for transparency and status updates in
increments previously unimaginable due to our industry's fragmentation."

DrayNow is reinventing the way Intermodal freight moves over the
critical first and last miles with a robust, tech-enabled marketplace.
DrayNow's instant load-booking app and match-making platform not only
helps shippers and brokers connect to trucking capacity, it provides the
first window into what's happening with any given shipment at any time.

DrayNow will use the recent financing to grow its team and fuel an
expansion into new geographies. At a time when the Intermodal industry
is facing constrained capacity, with fewer than 5,000 carriers able to
access Intermodal freight, DrayNow opens that market to another 845,000
carriers. The company's steady revenue growth and freight volume
increases throughout 2018 is validating the value of a more accessible,
real-time marketplace.

"Over the past 6 months, 78% of the loads posted on our DrayNow
Marketplace are taken in less than 20 minutes. Both sides of the
business – brokers and carriers – are capitalizing on the simplicity and
transparency of our real-time booking engine," said Albert. "And it's
not just the ability to match freight to carriers that's driving the
interest, it's a superior experience. We spent the past 6 months asking
our customers and users what they need…and then refining our platform to
deliver total visibility, greater operational efficiency and other tools
to help improve overall quality of life. Now, with the support of our
great partners, Comcast Ventures and Osage Venture Partners, we're
better positioned to swiftly move into new markets."

"The shipping and logistics industry is an incredibly vital and growing
part of our economy. Yet the Intermodal sector of the industry has seen
very little technology enabling the match-making and operational
efficiency it needs," said Sam Landman, managing director of Comcast
Ventures. "We invested in DrayNow because the team and the technology
establishes a much more efficient method for moving freight. In addition
to being the first mover in the space, DrayNow has demonstrated an
ability to build and refine an offering that addresses its customers'
pain points."

DrayNow's prior financing included co-founder investment and seed
funding from Genacast Ventures.

About DrayNow

DrayNow provides technology-driven solutions for the intermodal freight
industry. Led by industry veterans, the company operates the first
intermodal marketplace connecting brokers to available carriers. The
DrayNow Marketplace is accessed by Third-Party Logistics (3PLs),
Intermodal Marketing Companies (IMCs), and brokers through a desktop
interface where users can view truck capacity in real-time, post loads,
track load status and obtain electronic documents immediately. With
DrayNow's mobile application, truck drivers can get turnkey access to
Intermodal freight, browse loads, compare rates and details, select
loads, deliver loads and get paid faster.

About Comcast Ventures

Comcast Ventures is the venture capital affiliate of Comcast
Corporation. Comcast Ventures invests in innovative businesses that
represent the next generation of technologies that will change the way
people live, work and interact.

About Osage Venture Partners

Osage Venture Partners (OVP) invests in early stage,
business-to-business (B2B) software companies on the East Coast from its
offices just outside of Philadelphia, PA. With over $175 million under
management, OVP seeks to invest in determined and creative entrepreneurs
and provide them with the capital and support required to build
high-growth, market-leading businesses. For more information, visit www.osagepartners.com.

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