Loadsmart a digitalized freight shipping firm raised $21.6 Million through series A fund

by anne jane in funding on 12th October 2018

Loadsmart is a fully digitalized freight shipping firm, which is founded in 2014 by Felipe Capella and Ricardo Salgado which uses artificial intelligence for shipment. The headquarters of Loadsmart is in Newyork, U.S.A. One can get updated freight via a phone or email through this technology driven and friendly platform. This company is named as a cool vendor in the sector of supply chain management technologies by Gartner. Loadsmart is now ranked as one of the five companies which in the line of supply chain technology. Without any human interaction, one has the freedom to book a truck within a fraction of seconds. By this, it can achieve its primary goal which is to combine the world with their logistics where a trailer doesn’t leave miles on an empty hand.

Recent funding

Loadsmart has raised $21.6 million series A fund recently. Chromo Invest, Connor Capital SB Maersk Growth are the investors for this fundraising. After this investment, the total fund amounts to $34.7 million including the convertible notes and previous investments.

In addition to this, Loadsmart also joined in partnership with Oaktree Capital Management and helped its portfolio to go digital through a supply chain management and logistics.

In the words of Loadsmart spokesperson

This investment can help Loadssmart to scale up its operations and double its engineering and product services.

Merging of shippers and carriers

Loadsmart helps these two people, shippers- one whose business is to receive the freight and the carriers- one who sends the freight. For combining these two the broker gets an amount. Every small and medium business needs a relationship to help them in freight shipment and they need these brokers to help them through the e-commerce platform. in case of carriers, these help them to boost their businesses. traditionally the freight brokers kept the order books and called the carriers and shippers, but Loadsmart made their business easy by combining these two companies through a software hit the market. To reduce the work, digital freight brokers streamlined the work through API calls and a single click.
Loadsmart’s website directs their API booking and quotes to a third-party transportation system in real-time shipment instantaneously. Another company, Convoy which is a three-year-old logistics startup also deals with the brokerage of freight and raised a fund of $185 million in series C round, where it is valued to $1 billion at present.


For sure, This freight brokerage sector is a well-reputed industry, at the same time becoming digitalized. According to market research report 2017, this market is now valued at $836 million approximately and will increase its revenue annually by $21.3 billion by 2026. this makes the logistics startup more exciting. Though Loadsmart is not waiting for the future market but opposing a commerce revolution by keeping their external capital flows.

How shippers and carriers use Loadsmart

over the years, Load smart main aim is to help carriers and shippers to load their truck shipments more efficiently. Loadsmart uses machine learning process to help their shipper to book an instant truckload and quote them within no time.


carriers can accept this freight through their mobile phones within a click. There is no need to call or email the person responsible for shipping. This technology helps shippers and carriers to connect with API and quote-booking source flow, which set their standards in the industry of logistics.

Conclusion

Through this Artificial intelligence system, the freight brokerage is emerging as a powerful platform. One can connect the shippers and carriers through just a click. this makes it innovative for everyone.

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