CHICAGO, Feb. 1, 2022 /PRNewswire/ -- Loadsmart, a
leading freight technology company, today announced it has closed a
$200 million round of Series D
financing led by SoftBank Latin America Fund, part of the SoftBank
Group, with participation from Series C investor funds and accounts
managed by BlackRock, rail transportation supplier CSX Corporation
(Nasdaq: CSX), and global active asset manager Janus Henderson
Group. The significant cash infusion now values the company at
$1.3 billion, more than three times
its Series C valuation just over one year ago.
Loadsmart leverages technology to build efficiency around how
freight is priced, booked and shipped. The company introduced the
first transparent instant pricing and booking experience for
truckload shippers in the U.S., and created the first API framework
for its distribution, which is now becoming the new industry
standard.
Since its founding, Loadsmart has maintained a pragmatic
tech-first approach to growth and has refused to subsidize demand
to acquire volume. This strategy continues to allow for
capital-efficient, sustainable and resilient growth, driven by
technology, operational excellence and strategic partnerships that
provide true value-added services to its customers. Since its
initial focus on truckload services, the company has expanded
beyond full truckload (FTL) shipments to other modes that include
less than truckload (LTL), partial truckload, and rail.
Additionally, Loadsmart now offers software solutions, such as
freight procurement software (RFP Guide), a trucking ERP system
(Kamion) and a leading standalone dock appointment solution for
warehouses (OpenDock), creating a true platform for freight
efficiency.
Loadsmart's carrier network has grown to more than 680,000
trucks, its freight procurement software processes hundreds of
millions of dollars in freight, and 600,000 dock appointments have
been scheduled through its software in the past month alone. The
company has access to more than $2bn
of freight per quarter via its API integrations, a 20x increase
over the previous two years.
"As a pioneer in digital freight technology, Loadsmart has built
a best in class, scalable platform that offers multimodal digital
services to customers across the supply chain," said Carlos
Medeiros, investment partner at SoftBank Latin America Fund. "We
are thrilled to lead this round of investment and work with
Felipe, Ricardo and their talented team as they continue to
digitize the supply chain to move the logistics industry into the
future."
Efficiencies created by Loadsmart not only increase customer
productivity and financial returns but are creating a more
sustainable, environmentally friendly supply chain.
Loadsmart enables customers to dramatically reduce Greenhouse
Gas emissions by saving fuel, eliminating idling and empty miles,
and connecting intermodal options that decrease environmental
impact.
"CSX is continually developing innovative solutions for further
reducing emissions by converting freight from highway to rail,"
said Kevin Boone, executive vice
president of sales and marketing at CSX. "As an environmental
leader in an industry that plays an important strategic role in the
low-carbon economy, CSX is excited for the opportunity to invest in
a company like Loadsmart that is creating a more sustainable supply
chain by eliminating empty miles and offering multimodal solutions
to shippers that generate substantial value for customers."
Loadsmart works closely with customers and other industry
partners to provide solutions that address the needs of shippers
while ensuring carriers across all modes of transport are able to
run efficiently and effectively, providing a healthy and
transparent environment in which everyone benefits.
"We have repeatedly witnessed the digital transformation of
traditional industries, such as banking, travel, healthcare, and
education, that lead to extraordinary improvements in performance
and efficiency," said Ricardo
Salgado, Loadsmart co-founder and co-CEO. "The logistics
industry is ripe for similar transformation, as it remains heavily
reliant on analog systems and processes that create fragmentation
and prohibit collaboration. The future of the supply chain and
logistics industry rely on digitization and automation where
Loadsmart is leading the way."
Loadsmart plans to use the funds of this recent investment to
rapidly expand its technology offerings, connecting shippers,
carriers, brokers and warehouses to increase efficiency and
transparency.
Loadsmart's suite of investors now includes the largest ocean
carrier in the world, the largest port terminal operator in the
U.S., one of the largest transportation and logistics companies in
North America and one of the
nation's leading rail transportation suppliers. The strategic
investment from CSX Corp., combined with past investments from
Maersk, TFI International and Ports America will allow for
continued collaboration and idea sharing with foremost leaders in
transportation and logistics.
"As a result of our ability to combine new technology with deep
industry expertise, we experienced 134 percent year-over-year
revenue growth in 2021. Shippers have seen the benefit of working
with us to address increased demand, tackle their supply chain
inefficiencies, and solve for a lack of digital solutions," said
Salgado.
"Our strategy has always been founded on leading with technology
and focusing on the customer. We chose a distinct growth path by
betting on technology adoption, API integrations and a very
disciplined approach to resource allocation, rather than relying on
freight subsidies and expensive sales blitzscaling. This strategy
is now paying off," said Felipe
Capella, Loadsmart co-founder and co-CEO. "This funding
accelerates Loadsmart's ability to expand our technology team
further to continue creating true value-add solutions that help our
customers move more with less."
Goldman Sachs & Co. LLC served as Loadsmart's exclusive
placement agent. Paul Hastings
served as legal adviser.
About Loadsmart
Transforming the future of
freight, Loadsmart leverages technology and logistics data to build
efficiency around how freight is priced, booked and shipped.
Pairing comprehensive logistics technology with deep-seated freight
industry expertise, Loadsmart fuels business growth, simplifies
operations and increases efficiency for carriers and shippers
alike. For more information, please visit: https://loadsmart.com.
Move more with less.
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SOURCE Loadsmart