What is Cargomatic?
Cargomatic operates as an asset-light provider of technology-enabled transportation brokerage services. The company specializes in local intracity shipments, specifically those under 500 miles, as well as complex port and rail drayage operations. By leveraging a sophisticated mobile application, Cargomatic effectively bridges the gap between shippers and carriers, facilitating instant booking and providing real-time visibility into freight movement. This digital-first approach addresses long-standing inefficiencies in the logistics industry, positioning the company as a vital intermediary in the modern supply chain ecosystem.
How much funding has Cargomatic raised?
Cargomatic has raised a total of $49.7M across 5 funding rounds:
Angel/Seed
$914K
Angel/Seed
$2.6M
Debt
$500K
Series A
$10.6M
Series B
$35M
Angel/Seed (2013): $914K, investors not publicly disclosed
Angel/Seed (2014): $2.6M led by Structure Capital, Morado Ventures, Winklevoss Capital, Acequia Capital, Sherpa Ventures, and SV Angel
Debt (2014): $500K, investors not publicly disclosed
Series A (2015): $10.6M featuring Morado Venture Partners, SV Angel, Canaan Partners, Structure Capital, Winklevoss Capital, and Sherpa Capital
Series B (2018): $35M backed by Canaan Partners, Muse Family Enterprises, Warburg Pincus, Xplorer Capital, and Genesee & Wyoming
Key Investors in Cargomatic
Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm renowned for its expertise in growth investing, supporting management teams in building long-term, sustainable success.
Canaan Partners
Canaan is an early-stage venture capital firm that invests in technology and healthcare companies, backing founders from seed through growth stages.
Morado Venture Partners
Morado Ventures is a tech-forward seed fund that invests in exceptional founders developing transformative companies, with a focus on data-driven industrial and logistics solutions.
What's next for Cargomatic?
Looking ahead, the strategic deployment of the $35M capital is expected to accelerate Cargomatic's market penetration and technological refinement. As the logistics sector continues to face pressure for greater transparency and speed, the company is well-positioned to leverage its data-driven platform to capture additional market share. Future growth will likely focus on deepening its integration with port and rail infrastructure, further optimizing the movement of goods within dense urban environments and enhancing the overall reliability of its carrier network.
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