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A Sydney-based logistics coordination software company being used by giants like Lendlease (ASX: LLC), Westfield (ASX: SCG) and CBRE (NYSE: CBRE) has raised $2.75 million in a pre-series A round led by Investible.
Founded in 2018 by Stephen Rockett and Richard Fifita, Veyor Digital is a delivery management software that allows users to track daily live site activity, including crane scheduling, monitoring loading docks, driver tracking, compliance procedures or on-site access control.
The startup has around 80 clients on its roster, including JLL, Brookfield and Vicinity Centres (ASX: VCX), and can also apply its software to other industries like distribution and event management.
The capital injection comes a month after the company announced it secured a partnership with John F. Kennedy International Airport in New York City to enhance the efficiency and safety of its loading dock operations. The collaboration will see its software be used to help manage the Terminal 4 area, which oversees more than 120,00 employees and serves 65,000-plus passengers per day.
The latest funding round, which also saw participation from Gravel Road Ventures and Saniel Ventures, is being used to support Veyor Digital’s continued expansion and growth across Australia and North America.
“We’re excited about the early traction we’ve built in the US market, and the continued strength of customer relationships in the ANZ region,” Veyor CEO and co-founder Richard Fifita says.
“This capital injection will allow us to hopefully replicate the same success we’ve had in Australia in the US and start to scale our business internationally.”
Veyor Digital’s software has been used to support large-scale operations in Australia, including the development of Sydney Metro Martin Place, where Systems Connect used the app to help request deliveries, coordinate scheduling, and ensure contractors met compliance requirements. Systems Connect is a joint venture between CPB Contractors and UGL that is delivering the line-wide works package for Sydney Metro.
“It provides our site teams with a live delivery board that can be used to plan and track scheduled deliveries in a manner similar to Uber Eats,” said Matt Budrodeen, who is the Inventory Controller at Systems Connect for the Sydney Metro City and Southwest tunnels project.
“This allows teams to use resources such as plant, personnel and storage efficiently, replacing traditional methods of whiteboards, spreadsheets and countless emails.”
Other development projects the company’s software has been used for are Lendlease’s HMAS Watson Redevelopment Project, a $389 million dollar contract that aims to modernise the Royal Australian Navy maritime warfare training establishment by mid-2026, and Melbourne Connect - a $400 million multi-building project innovation precinct for the University of Melbourne.
Investible Chief Investment Officer Charlie Ill says that Veyor’s streamlined approach to the core of logistics management saves managers hours per day, freeing them for much higher-value work.
“Richard and Stephen have built a much-needed, user-friendly product that has seen great traction in key markets in the US and Australia, and Investible are excited to help the team unlock another phase of growth,” he says.
The funding round was led by Asia-Pacific-based VC Investible via its Early-Stage Fund 2 and included participation from members of its Club Investible syndicate, Saniel Ventures CEO Leigh Jasper, Aconex co-founder Rob Phillpot’s family office, in addition to various angels.
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