Pallet Secures $27M to Expand AI Workforce in Logistics

Pallet has secured $27 million in a Series B funding round led by General Catalyst, with participation from Bain Capital Ventures, Activant Capital, and Bessemer Venture Partners. This funding brings Pallet's total raised to $50 million, announced in a press release. The company plans to use the funds to expand its product and engineering teams and scale its AI workforce, CoPallet, to meet growing demand.

CoPallet is designed to handle high-volume logistics workflows such as order entry and quoting, offering a faster and more cost-effective alternative to traditional staffing. As logistics operators face increasing cost pressures, Pallet's AI solutions have become essential for maintaining profitability without compromising service quality.

The logistics industry, valued at $11 trillion, still relies heavily on manual administrative tasks. CoPallet aims to streamline these processes, completing them ten times faster and at half the cost. The funding will help Pallet enhance its capabilities and support its expanding customer base, which includes freight brokers, carriers, and shippers.