Ilya Preston, CEO & Co-Founder of Paxafe: $14 Million Raised to Power the Future of Decision Intelligence in Logistics

Oct 3, 2024

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Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech's most innovative B2B founders. In today's episode, we're speaking with Ilya Preston, CEO & Co-Founder of Paxafe, a decision intelligence platform for temperature-controlled logistics that has raised $14 Million in funding.

Here are the most interesting points from our conversation:

Founding Paxafe: Paxafe was founded in 2018 to address inefficiencies in temperature-controlled logistics. Initially, the company offered IoT devices for real-time location tracking, but they eventually pivoted to focus on decision intelligence, optimizing cold chain processes.
From Sensors to Intelligence: While sensors and IoT devices have helped track goods, the real issue remains in converting that data into actionable insights. Paxafe’s platform helps companies reduce waste and improve decision-making by offering a more comprehensive approach to supply chain management.
Market Evolution: Paxafe transitioned from being categorized as a risk management platform to focusing on decision intelligence. Unlike competitors optimizing for black swan events, Paxafe's value lies in improving day-to-day decision-making, such as routing optimization and carrier selection.
Building the GTM Function: Paxafe didn't set up a formal marketing function until after closing their Series A. Since then, they have focused on standing up inbound and outbound processes, showing how GTM can rapidly accelerate growth when implemented strategically.
Effective Marketing Strategies: Conferences have been a high ROI channel for Paxafe, allowing them to engage with cross-functional teams. Consistent and high-quality content creation has also proven to be a key driver for pipeline expansion.
The Importance of Clear Fundraising Processes: Ilya emphasized the importance of running a tight fundraising process with clear communication, goals, and timelines. Early on, he learned the importance of being explicit about whether you’re fundraising during investor meetings to avoid confusion later.

Sponsors:

Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership.

www.FrontLines.io

The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe.