• New York Shipping Exchange

  Participated · Series A · Aug 2017

  NYSHEX provides shared digital infrastructure and Proactive Performance Management (PPM) technology to improve contract fulfillment and execution in container shipping. The platform aims to align incentives, connect execution, reduce manual work and strengthen relationships among shippers, carriers and NVOCCs. NYSHEX says it was founded in 2015 to address $23 billion of economic waste caused by poor contract fulfillment. The company plans to launch a series of freight rate indices in 2025 and supporting technology to simplify administration of index-linked contracts. It will partner with ICE, which will serve as the calculation agent for the indices. The product roadmap focuses on increasing transparency and enabling index-linked contracting and hedging solutions for industry participants. Nyshex provides a carrier-neutral platform that creates and enforces ocean freight contracts, hosts dashboards for carriers and shippers, and offers workflows for contract fulfillment and dispute resolution. The system matches freight bookings and physical container movements using AI trained on carrier data and third-party aggregators to sync shippers, freight forwarders, and carriers in real time. Nyshex acts as a neutral third party and presents critical performance metrics to both sides while working to resolve issues when they arise. The company plans to launch a payments product with undisclosed strategic financial services partners and is developing a shipper-focused allocation management product that it says will support over 100,000 shippers. Financially, Nyshex reported $12 million in annual recurring revenue, handled $1 billion in gross freight volume last year (projecting $4 billion by the end of 2022), and expected to reach cash-flow positive status in Q3 2022. The company had about 120 employees and expected to expand to over 170 by the end of 2023. NYSHEX provides a standardized digital exchange for forward freight contracts in the global container shipping market. The platform enables parties to enter enforceable, over-the-counter freight contracts compliant with U.S. regulations and the Federal Maritime Commission's filing requirements. Its model draws on principles from established exchanges including the New York Stock Exchange, Chicago Mercantile Exchange, and the London Metals Exchange. The company was founded in 2015 and is led by CEO Gordon Downes. Financially, NYSHEX has pursued Series A financing and completed an additional $4.5M close. It will use the funds to grow service offerings and to pursue further funding to build a comprehensive global exchange. NYSHEX offers a standardized over-the-counter exchange for entering enforceable forward freight contracts for global shippers, forwarders and carriers. Its platform is based on principles from the New York Stock Exchange, Chicago Mercantile Exchange and the London Metals Exchange. The service is compliant with U.S. regulations and the Federal Maritime Commission’s contract filing requirements. NYSHEX also facilitates freight financing and settlement through select first-class banks and maintains the industry standard form contracts and supporting technology. The company was founded in 2015 and is led by CEO Gordon Downes. It plans to use the new funding to expand globally.

No current team members are available.