Loadsmart is a freight tech firm whose platform assists trucking and shipping companies in connecting with customers. With the platform, users can book trucks, get quotes, and track their freights on the way to the destination point.
The funding round was led by SoftBank Group Corp.’s Latin America Fund. Among other investors were Janus Henderson Group, BlackRock, and CSX Corp. This round led Loadsmart to the unicorn club. The money raised will be used for the expansion of technology offerings and supply chain efficiency increase.
Loadsmart, Chicago-based, was founded by Felipe Capella, Ricardo Salgado in 2014. As of now, the company has more than 680 000 trucks. The employees’ number is 581. “The key to unlocking efficiency in the supply chain, which is also the company’s major challenge, is leveraging technology to create solutions that remove these barriers, bringing carriers, shippers, and warehouses together so we can move freight in the most efficient, transparent and automated way”, Ricardo Salgado, co-CEO. Loadsmart acquired freight tech start-ups Kamion and Opendock. Moreover, the company launched a marketplace that combines algorithms with carriers from The Home Depot for shippers to find flatbed truck capacity.