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§ Private Profile · 1435 Vine St, Cincinnati, Ohio, 45230, United States
On-demand last-mile delivery platform connecting businesses with owner-operator drivers for same-day and scheduled deliveries nationwide.
FRAYT is a Cincinnati, Ohio-based logistics company that operates an on-demand, last-mile delivery platform connecting commercial businesses with a network of independent owner-operator drivers. The company provides fleet augmentation services through a proprietary web platform, mobile application, and API, facilitating same-day and scheduled deliveries using vehicles ranging from standard sedans to 26-foot box trucks. Operating across most major United States markets, the enterprise maintains an active network of over 15,000 vetted drivers while operating with fewer than 25 corporate employees. The logistics platform currently generates approximately $6.5 million in annual revenue and has secured $7 million in total funding to support its ongoing nationwide expansion efforts. The executive leadership team includes Chief Operating Officer Clancy Boyer, Director of Engineering Elijah Brandyberry, and Director of Operations Brian Griffin, working alongside founders Luke and Josh McCord.
FRAYT has raised $7.0M across 1 funding round.
FRAYT has raised $7.0M in total across 1 funding round.
FRAYT has raised $7.0M in total across 1 funding round.
FRAYT's investors include Refinery Ventures, Black Ops Ventures, Capital Midwest Fund, JobsOhio, Venture 53.
FRAYT has raised $7.0M across 1 funding round. Most recently, it raised $7.0M Series A in April 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 1, 2023 | $7M Series A | Refinery Ventures | Black OPS Ventures, Capital Midwest Fund, JobsOhio, Venture 53 | Announced |
FRAYT is a technology company building an on-demand delivery platform that connects shippers with vetted carriers for fast, affordable, and reliable last-mile logistics across the U.S.[1][2][3] It serves businesses in sectors like retail, manufacturing, and construction by enabling same-day or scheduled deliveries via a simple web interface, mobile app, or API integration, solving pain points such as inefficient routing, driver shortages, and lack of real-time tracking.[2][4] With a network of over 10,000 drivers in 50+ major markets, rigorous vetting (only 20% pass background and insurance checks), and tools for tracking, alerts, and payments, FRAYT has raised $7M in Series A funding in 2023 to fuel expansion and product innovation, reporting $6.5M in revenue.[1][3]
Founded in 2018 in Cincinnati, Ohio, by a team of experienced logistics professionals including co-CEO Luke Denny, FRAYT emerged from the recognition of fragmented last-mile delivery challenges in an era of rising e-commerce demands.[1][3] The idea crystallized around creating a streamlined platform to match shippers with professional carriers more efficiently than traditional models, leveraging technology for on-demand matching.[1][2] Early traction came from building a vetted driver network and partnerships like Branch for instant payments, which helped attract and retain drivers amid rapid growth; by 2023, this momentum secured $7M in Series A funding led by Refinery Ventures, enabling coverage in over 50 markets.[1][3]
FRAYT rides the explosive growth of e-commerce and same-day delivery expectations, where customers demand real-time tracking and precise windows amid supply chain strains.[2][4] Timing aligns with post-pandemic logistics digitization, as market forces like labor shortages and rising fuel costs favor on-demand platforms over rigid fleets; FRAYT's API and vetting reduce inefficiencies for SMBs and enterprises.[1][4] It influences the ecosystem by enabling sectors like retail and manufacturing to scale last-mile ops cost-effectively, fostering a more agile, tech-integrated logistics network that lowers barriers for nationwide expansion.[3][4]
FRAYT is poised for accelerated growth through ongoing network expansion (already coast-to-coast in major markets) and product enhancements like deeper API integrations and AI-driven optimizations.[2][3] Trends such as autonomous vehicles, sustainability mandates, and hyper-local delivery will shape its path, potentially amplifying its edge via data analytics for predictive routing. As last-mile remains a $150B+ bottleneck, FRAYT's driver-focused model and funding runway position it to capture more share, evolving from regional player to national logistics powerhouse—reinforcing its mission to make professional on-demand shipping accessible to all.[1][3][4]