The Venture Codex

Participated · Series B · Jul 2020

Liftit provides scheduled trucking delivery services that integrate with shippers' systems to plan trucks, optimize routes and reduce delivery times. The platform focuses on scheduled shipments rather than on-demand work—less than 1% of deliveries come from on-demand orders—and targets efficiencies for independent truck owners across Latin America. During the COVID-19 pandemic the company had 220 contracts with shippers; about half went to zero while the other half spiked, with new business such as Walmart increasing usage. Liftit is already profitable in Chile and Colombia and expects to reach profitability across all operations before the end of the year. The company says it is focusing on the five countries where it already operates and is expanding in Brazil, Mexico, Chile and Ecuador, and has recently hired heads of operations for Mexico and Brazil. That regional expansion aims to capitalize on increased demand and operational traction driven by pandemic-related shifts in logistics.