Participated · Equity · Sep 2019

Founded in 2014 and based in Chicago, Loadsmart builds automation and machine-learning systems to price, book, and move freight. Its platform matches loads to a network of over 680,000 trucks, employs a pricing model that considers 400+ parameters, and uses dynamic pricing to react to market shifts. Product features include GPS-guided cargo tracking, carrier screening for safety standards, and automated classification of shipping documents. The company has expanded via acquisitions (Kamion and Opendock), launched mode-optimization and a Home Depot-integrated marketplace, and opened a 35,000-square-foot headquarters. Loadsmart reported strong recent growth — 232% year-over-year revenue growth in Q2 2021 (32% quarter-over-quarter) and 114% year-over-year growth in Q3 2021 — with gross revenues north of $250 million and a projection to double in the next 12 months. It employed 581 people and says its gross margin profile is roughly double that of direct competitors. Loadsmart is an on-demand digital freight platform that lets customers book transportation across land, rail and ports from a single online portal. It recently added the ability to ship partial truckloads. The company plans to use new funding to continue building out its platform to offer more end-to-end logistics services. Loadsmart said it will pursue part of that expansion through a new collaboration with strategic investor TFI International. The company reported revenue growth of 250% across 2020 while keeping operating expenses flat. Loadsmart framed its growth as organic, contrasting its approach with competitors that it said subsidize customers’ freight spend. Loadsmart is a digital freight platform specializing in truckload and intermodal shipping. Co‑founded by Ricardo Salgado (CEO) and Felipe Capella (CPO), the company is based in Chicago and New York City. It leverages data and machine learning to build AI-driven processes into the freight cycle, enabling shippers to book a truck in seconds and providing instant, targeted loads to carriers. The company offers a web-based instant booking service for small and medium-sized shippers and an API-integrated solution for enterprise accounts. Loadsmart recently launched Loadsmart Drayage Instant Booking and is focusing on a Smart Drayage initiative funded by its latest raise. The firm’s financing position includes the new $19M round and prior rounds totaling $53.4M to date. Loadsmart is a NYC-based digital freight broker that leverages artificial intelligence to automate the truckload booking flow in the United States. It provides instant prices to shippers with capacity guaranteed on all U.S. lanes and offers manual booking or server-to-server API integration for automated bookings with no human intervention. The company was co-founded by Ricardo Salgado and Felipe Capella. Loadsmart plans to use the Series A proceeds to scale its operations team and double down on product and engineering. The company has raised a total of $34.7M to date. It also signed a strategic partnership with funds managed by Oaktree Capital Management to explore mutually beneficial collaboration.