CartonCloud has successfully secured a AUD12 million investment to fund its planned expansion to Canada and the United States.

The cloud-based logistics management software developer has received funding from ASX-listed MA Financial to grow its team and invest in research and development to fast-track the rollout of new product features already in the pipeline.

CartonCloud’s software allows SMEs to streamline workflows, benefiting from integrations, workflow optimisation, enhanced recipient experience for last-mile providers, and automated data entry.

This MA Financial investment represents a significant milestone for CartonCloud and huge benefits for customers, according to founder Vincent Fletcher.

“(The funding) enables us to capitalise on the significant interest we have received from prospective customers in the United States and Canada and seize new opportunities.

“Entering the massive US logistics industry opens up extraordinary opportunities for CartonCloud to secure new customers, build new industry partnerships and continue to improve our product for all of our global customers,” he adds.