Participated · Series B · Aug 2018

Cargomatic operates a mobile application that connects shippers, receivers and carriers to simplify booking and eliminate calls, emails and faxes. The platform provides real-time tracking, access to untapped trucking capacity, and tools to manage outsourced vendors. It aims to improve service levels including pickup times and delivery rates for shippers, manufacturers, retailers and third-party logistics providers. The company currently operates in Los Angeles, San Francisco, Chicago, Florida, Seattle, Dallas, Houston and New York and has thousands of trading partners using its platform. Cargomatic intends to use its new funding to support geographic expansion and hire key employees for its next phase of growth. Founded in 2013 and led by CEO Richard Gerstein, the company positions itself as a touchless short-haul and drayage provider. Cargomatic is a Los Angeles-based startup operating an online marketplace for shipping services. The platform helps connect local shippers with carrier companies that have extra space on their trucks. The company is led by Jonathan Kessler. In January 2015 Cargomatic raised $8M in a Series A funding round. Investors in the round included Canaan Partners, Volvo Group Venture Capital, Morado Venture Partners, SV Angel, Sherpa Ventures, Winklevoss Capital, Structure Capital and angels. The startup offers a service to match local freight demand with available carrier capacity. Cargomatic operates a desktop and mobile platform connecting local shippers with small trucking companies to provide on-demand local truck availability. The company launched its service in Southern California and is based in Venice Beach, California, with operations in Los Angeles. Its coverage area extends from Santa Barbara County south to San Diego County and east to San Bernardino County. Cargomatic has been in beta since January 2014. The company plans to begin serving the U.S. east coast in the coming months. It closed $2.6M in funding to support its expansion.