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 logistics process, offering enhanced visibility and operational efficiency for its clients in the complex world of freight movement.
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 Morado Ventures, SV Angel, Structure Capital, Winklevoss Capital, Acequia Capital, and Sherpa Ventures
Debt (2014): $500K, investors not publicly disclosed
Series A (2015): $10.6M featuring SV Angel, Canaan Partners, Sherpa Capital, Structure Capital, Morado Venture Partners, and Winklevoss Capital
Series B (2018): $35M backed by Canaan Partners, Xplorer Capital, Genesee & Wyoming, Warburg Pincus, and Muse Family Enterprises
Key Investors in Cargomatic
Morado Ventures
Morado Ventures is a tech-forward seed fund that invests in exceptional founders developing transformative companies, focusing on early-stage, data-driven companies across various sectors.
SV Angel
SV Angel is a long-term investment firm dedicated to supporting founders in creating impactful businesses by providing essential resources, strategic insights, and a vast network to help companies scale.
Canaan Partners
Canaan is an early-stage venture capital firm that invests in technology and healthcare companies, backing founders from seed through growth stages.
What's next for Cargomatic?
The substantial enterprise-level funding and recent strategic investment signal a pivotal phase for Cargomatic. This capital infusion is anticipated to accelerate the company's market penetration, enhance its technological infrastructure, and potentially expand its service offerings into new geographic regions or specialized logistics niches. With a focus on optimizing local and drayage shipments through technology, Cargomatic is well-positioned to capitalize on the increasing demand for efficient and transparent supply chain solutions. Future developments may include further platform enhancements, strategic partnerships, and scaling its carrier and shipper network to meet evolving industry needs.
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