Seed round led by Floating Point backs Catena’s API connecting fragmented freight data to power payments, brokers, insurance, fraud detection, and AI

NEW YORK–(BUSINESS WIRE)–Catena, the universal API for telematics and logistics data, today announced a $5M seed round led by Floating Point, with participation from Shaper Capital, Teamworthy, Plug and Play, SpringTime Ventures, Liquid 2, Blue Moon, and Blue Impact Supply Chain Ventures. The round also includes more than 20 leading logistics executives from Augment, Fillogic, FreightWaves, OTR Transportation, Reliance Partners, TalentSolvers, TruckSmarter, TrueNorth, and more. This financing establishes Catena as the leader in freight data infrastructure and brings total funding to $8M since the company’s incorporation in January 2024.

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Catena was founded by three industry veterans who have built and scaled data platforms at the intersection of finance, logistics, and enterprise technology: Jeremy Baksht (former senior executive at Walmart, Bloomberg, and Citigroup), Travis May (co-founder and former CEO of Datavant and LiveRamp, now CEO of Shaper Capital), and Mike Goynes (former data officer at Interos and Optoro). Their combined experience is uniquely suited to building freight’s missing data layer.

Unifying Freight’s Fragmented Data

Catena delivers fleet telematics through a single modern API, giving partners real-time and historical truck data with one integration. Instantly compatible with thousands of fleets, Catena powers insurers, brokers, fuel card providers, and fintechs to scale solutions across multi-billion-dollar freight markets. Today, Catena connects more than 300,000 vehicles and supports customers including Truckstop, PortPro, and Tread.

For decades, critical freight services have had to build on top of a fragmented carrier base, with data scattered across thousands of systems—often inconsistent, incomplete, or inaccessible. Without clean, connected data, these services can’t scale efficiently, leaving billions of dollars in freight lacking full visibility.

Customer Sean Dehan, Vice President of Corporate Strategy at Truckstop, had this to say:

“Operational and identity data are the backbone of efficient and secure carrier and broker workflows. Catena is setting the standard for how this data should be connected, and we’re thrilled to grow our partnership.”

Unlocking AI Through Trusted Data

Catena provides clean, permissioned, first-party data that brokers, shippers, fintechs, and insurers can rely on to power payments, insurance, risk management, and compliance. By normalizing fragmented feeds into a single source of truth, Catena lays the foundation for the next wave of AI in freight: from automating exception management and reconciliations to powering predictive models.

Jeremy Baksht, Catena co-founder and CEO, explains:

“AI promises a lot, but it can only be as good as the data it runs on. The hard part isn’t spinning up a flashy model. It’s ensuring clean, authorized access across hundreds of siloed, permissioned sources. What customers need, and what Catena provides, is reliable, first-party data that lets AI actually see the supply chain clearly and unlock real efficiency.”

Floating Point Leads Round

Floating Point, the lead investor, brings unique expertise to Catena’s mission. Partners Eddie Segel and John Loser were on the founding team of Oscar Health and have since made investments in Altana, Tive, Cofactr, and Nevoya, companies at the forefront of supply chain resilience.

Eddie Segel, co-founder and General Partner at Floating Point, said:

“Freight runs on data, but it’s siloed. Unlocking it requires trust and aligned incentives. Carriers need access to modern fintech and brokerage solutions, and those services need seamless access to the fragmented carrier market. Already trusted by the major platforms, Catena is fast emerging as the default data infrastructure for the industry.”

Next Steps and Vision

The new capital will accelerate Catena’s product development, expand integrations with telematics and logistics data providers, and scale partnerships with brokers, insurers, shippers, and fintech firms. These efforts will expand the range of services Catena’s platform powers, from payments and insurance to fraud detection, compliance, and AI-driven operational tools.

Travis May, Catena co-founder and Chairman, added:

“Knowing where your goods are is foundational to running a business, but that information is still locked across thousands of vendors and software systems. Catena is building the universal data infrastructure that lets these systems finally talk to each other, unlocking a wave of tools that make freight and commerce run more smoothly.”

About Catena

Catena is the universal data API for logistics, standardizing and connecting telematics data from multiple sources. With prebuilt integrations for most major ELDs in the U.S., Catena ensures seamless connectivity across the trucking ecosystem, enabling platforms, fleets, and shippers to streamline operations and unlock actionable insights.

Contacts

Media Contact
Aly Hancock, Head of Growth, Catena
Aly.Hancock@catenaclearing.io

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