Artificial Intelligence company, Augment, secures $85 million funding to expand Augie, their AI counterpart transforming logistics tasks and workflows.
San Francisco-based Augment, an AI-driven productivity platform for the logistics industry, has announced the successful completion of an $85 million Series A funding round. This brings the company's total capital raised to $110 million.
The round was led by Redpoint Ventures, with participation from 8VC, Shopify Ventures, Autotech Ventures, and other investors. Notably, the financing was significantly influenced by Prysm Capital, a16z, Amex Ventures, Coatue, YC, and Google's AI Futures Fund. This robust investment will enable Augment to expand its engineering and go-to-market teams significantly.
Augment's flagship product, Augie, is already making a significant impact in the logistics sector. Currently, Augie supports over $35 billion in freight under management. The platform is designed to work across systems and communication channels, taking full ownership of a shipment from order to cash.
According to Augment's CEO, Harish Abbott, AI in logistics is headed towards AI agents handling the majority of repetitive workflows within the next 12 to 18 months. Augie proactively handles exceptions and reduces the manual back-and-forth that weighs down logistics operations.
William McManus, an operations specialist at Armstrong, a $1.3 billion brokerage, testifies to Augie's effectiveness. He states that Augie takes care of the work, allowing him to log off when he logs off. This end-to-end approach is already driving measurable results for customers, with brokers and 3PLs reporting being able to scale without adding headcount.
Cameron Ramsdell, CEO of Armstrong, reports that reps managing 10 loads a day have increased to 20 or 30, with higher morale and stronger customer service, due to Augie. The company has seen a 40% reduction in invoice delays and 30-50% productivity gains in operations using Augie.
Augment's roadmap includes scaling Augie's front- and back-office coverage, building a logistics-native knowledge hub, and investing heavily in integrations. The logistics-native knowledge hub will provide pricing, service, and compliance intelligence across modes and networks. This will help users make informed decisions and streamline their operations.
Augie integrates with TMS platforms, load boards, shipper portals, and communication channels, making it a versatile tool for logistics professionals. Co-founder and CEO Harish Abbott plans to hire more than 50 engineers and over 10 go-to-market staff by the end of 2025, further solidifying Augment's position in the logistics industry.
With its AI-driven productivity platform, Augment aims to build a system that can operate seamlessly across the patchwork of systems that define modern freight. As Augie continues to gain traction among shippers, brokers, and carriers looking to automate their workflows, it is poised to revolutionise the logistics industry.
