What is Cargomatic?
Cargomatic operates as an asset-light provider of technology-enabled transportation brokerage services, specializing in local intracity shipments (under 500 miles) and port and rail drayage. The company leverages a proprietary mobile application that efficiently connects shippers with carriers, facilitating instant booking and providing real-time tracking capabilities. This innovative approach streamlines the complex logistics of urban freight movement, offering a more agile and responsive solution compared to traditional methods. Cargomatic's focus on technology aims to optimize the utilization of transportation assets and enhance the overall efficiency of the supply chain.
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 SV Angel, Winklevoss Capital, Acequia Capital, Structure Capital, Morado Ventures, and Sherpa Ventures
Debt (2014): $500K, investors not publicly disclosed
Series A (2015): $10.6M featuring Structure Capital, Canaan Partners, Sherpa Capital, SV Angel, Morado Venture Partners, and Winklevoss Capital
Series B (2018): $35M backed by Canaan Partners, Muse Family Enterprises, Genesee & Wyoming, Warburg Pincus, and Xplorer Capital
Key Investors in Cargomatic
Canaan Partners
Canaan is an early-stage venture capital firm that invests in technology and healthcare companies, backing founders from seed through growth stages in areas such as enterprise software, fintech, consumer, biopharma, and digital health. With offices in the U.S. and Israel and billions of dollars under management, Canaan has funded hundreds of startups and supported dozens of IPOs and acquisitions.
Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm renowned for its expertise in growth investing. Operating as a private partnership, the firm leverages decades of experience to support investors and management teams in building long-term, sustainable success across diverse market cycles. Warburg Pincus focuses on identifying and nurturing opportunities that span multiple industries, stages of development, and geographic regions, combining strategic insight with operational support to create enduring value.
Structure Capital
Structure Capital is a venture capital firm focused on building a zero waste economy by investing in seed-stage companies that optimize resources and empower communities. Their portfolio spans various sectors, emphasizing the efficient use of under-utilized assets and cutting-edge technology. With a diverse team boasting extensive entrepreneurial experience, they provide valuable guidance and support to help companies grow. Their clients include passionate entrepreneurs who define success not just by profits, but by the broader impact on investors, customers, and communities.
What's next for Cargomatic?
With its recent major strategic investment and substantial total funding, Cargomatic is well-positioned for its next phase of growth. The company's enterprise-level backing suggests a focus on scaling its operations, expanding its technological capabilities, and potentially entering new geographic markets. This capital will likely be directed towards enhancing its platform's features, strengthening carrier relationships, and increasing its market share in the competitive drayage and local freight brokerage industry. Cargomatic's strategic financing indicates a strong market validation and a clear path toward solidifying its position as a leader in logistics technology.
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