We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Loadsmart lands $200 million backing for freight technology platform

Loadsmart lands $200 million backing for freight technology platform

Logistics industry is primed for digital transformation, following footsteps of banking, travel, healthcare, and education sectors, firm says.

loadsmart Screen Shot 2022-02-02 at 2.13.45 PM.png
February 2, 2022
Supply Chain Quarterly Staff
No Comments

Freight technology company Loadsmart plans to rapidly expand its technology offerings that connect shippers, carriers, brokers, and warehouses to increase logistics efficiency thanks to a $200 million venture capital round announced on Tuesday.

The “series D” financing was led by SoftBank Latin America Fund, with participation from returning investors like funds and accounts managed by BlackRock, rail transportation supplier CSX Corp., and global active asset manager Janus Henderson Group. The deal values the company at $1.3 billion, pushing it over the billion-dollar “unicorn” threshold for startups.

The backing comes at a time when the logistics industry is ripe for improvements in performance and efficiency, according to Loadsmart co-founder and co-CEO Ricardo Salgado. That process would follow the path of “traditional industries” such as banking, travel, healthcare, and education, that have already seen similar digital transformations, he said.

“The logistics industry is ripe for similar transformation, as it remains heavily reliant on analog systems and processes that create fragmentation and prohibit collaboration. The future of the supply chain and logistics industry rely on digitization and automation where Loadsmart is leading the way,” Salgado said.

The New York-based firm’s core technology is digital freight matching technology that it says improves transparency in freight pricing, booking, and shipping. Since its initial focus on truckload services, Loadsmart has expanded beyond full truckload (FTL) shipments to other modes that include less than truckload (LTL), partial truckload, and rail. The firm now also offers software solutions, such as freight procurement software (RFP Guide), a trucking ERP system (Kamion), and a standalone dock appointment solution for warehouses (OpenDock).

According to investor CSX, that multi-layered approach could achieve improvements in many levels of logistics operations. “CSX is continually developing innovative solutions for further reducing emissions by converting freight from highway to rail,” Kevin Boone, CSX’s executive vice president, Sales and Marketing, said in a release. “As an environmental leader in an industry that plays an important strategic role in the low-carbon economy, CSX is excited for the opportunity to invest in a company like Loadsmart that is creating a more sustainable supply chain by eliminating empty miles and offering multimodal solutions to shippers that generate substantial value for customers.”

The latest fundraising round follows past investments from big names in the industry such as the investment arm of shipping giant A.P. Moller-Maersk and platform integrations with supply chain technology firms including software vendor Blue Yonder. 

We have closed a $200M round of Series D financing at $1.3B valuation, more than 3 times our Series C valuation! Excited to build on this milestone with our Series D investors SoftBank Group International Latin America Fund, BlackRock, CSX, & Janus Henderson Group PLC! pic.twitter.com/2kJ87u0xwa

— Loadsmart (@LoadsmartUS) February 2, 2022
Finance Technology Trucking
KEYWORDS Loadsmart
  • Related Articles

    Flexport lands enormous $935 million backing for freight forwarding platform

    Tech startup CloudTrucks lands $115 million backing for "business in a box" platform

    FloorFound lands $10.5 million backing for its large-item returns network

Recent Articles by Supply Chain Quarterly Staff

Cargo volume down in Oakland

Safety experts to headline National Forklift Safety Day 2022 program on June 14

FedEx and Aurora expand autonomous trucking pilot

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Logistics pros warn of business impact from Russia-Ukraine war

  • Container prices continue to drop

  • How to resolve your inventory dilemma

  • Warehouse vacancy rates sink to 27-year low

  • Empty shipping containers stack up at U.S. port depots

Featured Video

Cccb7d13 710a 4473 8132 da8b6cc286f1

The Sportsman's Guide Case study: Increasing Accuracy & Productivity

Viewer Contributed
Thanks to the Lucas Warehouse Optimization Suite, The Sportsman's Guide has increased productivity, reduced training time, and experienced a boost in accuracy for both full-time staff and seasonal employees. Want to learn how Lucas can help your DC be more efficient, accurate, and safe while reducing labor costs?...

FEATURED WHITE PAPERS

  • Omnitracs One – Last Mile Solutions

  • The enterprise shipper's guide to building a smarter truckload RFP

  • Fixed vs. Flexible Automation: Which Option is Better for 3PLs?

  • Enhancing Relationships in Logistics through Data & Collaboration

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2022. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing