Loadsmart Crowned as Technology Innovator as part of Inaugural Freight.Tech25 Awards

Loadsmart was recently named to the inaugural FreightWaves Freight.Tech25 awards at MarketWaves18. The award recognizes the most innovative and disruptive companies in freight. The original list of 100 companies was paired down to 25 after being evaluated and ranked on a 1-25 point basis. The panel of judges  – 60 in total – included industry executives, academics and investors.

Felipe Capella, co-founder and chief product officer of Loadsmart, said: “This accolade is a further testament to Loadsmart leading the way in technology for this industry.” Between the award nominations, analyst recognitions, and our most recent funding announcement, it’s fair to say that it’s been an exciting time here at Loadsmart.

Freight.Tech25

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This isn’t the first time Loadsmart has been recognized for innovation in the supply chain industry either. Loadsmart was recognized by CB Insights for supply chain disruption, and by Gartner as a Gartner Cool Vendor.

2018 has been a big year for us, and we’re excited to see what 2019 will bring for us.

Loadsmart Announces $21.6 Million Series A round led by Maersk Growth, Connor Capital SB and Chromo Invest

NEW YORK, NY – October 9, 2018 – Loadsmart, a digital freight broker, today announced it has raised $21.6 million in series A funding led by Maersk Growth, Connor Capital SB and Chromo Invest. This brings the total investment in Loadsmart to date to $34.7 million following previous seed investment and a convertible notes round. The current investment will be used to scale Loadsmart’s operations team while doubling down on product and engineering.

Loadsmart 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. Through its automated platform, shippers can book a truck in seconds manually or integrate via an API to have a server-to-server booking with no human intervention.

Shippers have been able to reduce their spot exposure by 50 percent after integrating with Loadsmart, while reducing procurement execution time up to 90 percent. Carriers keep their trucks full and reduce empty miles as Loadsmart’s machine learning algorithms match loads with their available trucks.

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Loadsmart co-founders Ricardo Salgado and Felipe Capella

Maersk Growth is joining Loadsmart as one of its leading investors. Maersk Growth is the launchpad for new ventures at A.P. Moller – Maersk, the world’s largest container shipping company. A.P. Moller – Maersk serves 343 ports in 121 countries with 18.3 percent market share in container capacity worldwide.

“We see huge potential with Loadsmart. Forward integrations between ocean shipping and over-the-road services can create incredible synergies and eventually provide a full service to shippers,” said Sune Stilling, head of Maersk Growth.

Loadsmart also signed a strategic partnership with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), with a broad goal of collaborating in ways that are mutually beneficial to both organizations.

Emmett McCann, managing director and co-portfolio manager, Oaktree, said, “Loadsmart has a solid company strategy and exciting distribution plan. They have built an outstanding team with advanced technology that can be deployed alongside our investment portfolio to digitize and accelerate supply chain and transportation logistics execution.”

Chromo Invest also joined as a lead investor. Marcelo Ferreira, managing director, Chromo Invest, said, “Chromo focuses on investing in companies leveraging AI in different industries. We have been very impressed with how Loadsmart leverages huge data sets to predict future outcomes and automate tasks. We’re looking forward to scaling the technology and driving this forward.”

“We are at our core a data company. With the highest ratio of engineers in the industry, we were the first to introduce truckload instant pricing and booking, and the market’s first server-to-server autonomous truckload booking via our API. This tech-first approach has allowed us to set in place a fully scalable and automated distribution model,” said Felipe Capella, co-founder and chief product officer, Loadsmart.

Ricardo Salgado, co-founder and CEO, Loadsmart, said, “Our strategy has been to focus exclusively on product development and technology. Now we are ready to grow. This round of investment will enable us to increase the business exponentially while maintaining high-service levels. It will also enable us to scale without losing the edge on innovation and technology.”

Loadsmart is headquartered in New York and has partnered with several Fortune 100 companies. The company was recently named a Gartner Cool Vendor in Intelligent Supply Chain Execution Technologies by Gartner and featured at CB Insights’ Startups Disrupting The Supply Chain & Logistics Industry.

 

Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Loadsmart named a Cool Vendor by Gartner in Intelligent Supply Chain Execution Technologies

New York, NY, Loadsmart, a technology company that specializes in full truckload shipping, was named by Gartner as a Cool Vendor in Intelligent Supply Chain Execution Technologies.

The note addresses how “embedded intelligence is becoming an essential competency of emerging supply chain execution technologies. Supply chain leaders can use this research to learn how emerging supply chain execution vendors commercialize innovation.”

Loadsmart was recognized as one of five companies providing emerging supply chain execution technologies.

“We are at the forefront of technology innovation when it comes to executing truckload shipments,” said Felipe Capella, co-founder and chief product officer, Loadsmart. “We were the first company to provide an instant pricing and booking experience for truckloads in the United States, enabling shippers to access live rates via their own system via an easy-to-implement API. We believe Gartner’s recognition is the result of hard work from our multi-disciplinary team.”

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Loadsmart co-founders Ricardo Salgado and Felipe Capella

Over the last five years, Loadsmart has been focused on helping shippers and carriers execute their truckload shipments in a much more efficient manner. This effort includes creating better experiences for both parties, as well as improving and automating back-office processes to reduce internal costs and provide better rates to all involved. Recent innovations include fully-automated server to server truckload booking (without human intervention) capability, accepting 100 percent of tenders and guaranteeing capacity; a load management mobile app for its internal team; and a tool to auto-classify shipment documents (BOL, invoices, POD, etc.) with machine learning technology.

Ricardo Salgado, co-founder and CEO, Loadsmart, said, “At Loadsmart, we are obsessed with automating full truckload shipping. Our success is based on the fact that our technology optimizes the booking journey of a truck as well as our capacity to dramatically enhance our service levels and reliability, which is the number one concern of our enterprise customers.”

Gartner’s Cool Vendors in Intelligent Supply Chain Execution Technologies research note can be found here. (Gartner subscription required)

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Recent Loadsmart mentions in Gartner research include:

 

Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Loadsmart to talk supply chain tech and ROI at 3PL & Supply Chain Summit: Atlanta

Erica E. Phillips, supply chain reporter for WSJ Logistics Report, writes that the hiring binge for logistics and freight companies may only be just beginning. The sector added 18,700 jobs last month, giving transport and logistics operations 73,000 new jobs since the start of the year. Companies are scrambling to keep up with surging shipping demand in what they say is the hottest transportation jobs market in several years.

While positive news, the peak shipping season is not here yet. How can we support manufacturers and retailers, and ensure they can fulfil their supply chain?

The digital supply chain is being hailed as the way forward, yet this comes with its own set of challenges. Virginia Howard, research director, Supply Chain Research Group, Gartner, correctly notes that digital technologies are enabling and promoting changes that have a larger impact, greater unpredictability and increased frequency. And that now, more than ever, high-tech supply chains require digital skills and methods to deliver customer-driven solutions in an on-demand fashion.

The digital supply chain vs. ROI

Erik Malin, head of operations, Loadsmart
Erik Malin, head of operations, Loadsmart

If everyone is going to be confronted by disruption in the marketplace, how can manufacturers and retailers choose technologies that will bring real ROI?

On Thursday, June 7 at 11:45 am, Erik Malin, Loadsmart head of operations, will join fellow panel members from BCG Logistics Group, DHL Supply Chain, Kenco Innovation Labs at the 3PL & Supply Chain Summit: Atlanta.

During the logistics technology stream, Erik will discuss how data and technology has empowered manufacturers and retailers alike – and how it is very different from mere automation.

 

In summary:

  • Learn from the early adopters: Gauge which technologies offer the best ROI opportunities, efficiencies, pilot results and customer responses, from people who’ve put them to the test
  • Rethink ROI in the digital supply chain: Discuss how far you need to spend money to make money to see the biggest returns from the new wave of technological transformation
  • Hear from the technology makers: Find out directly from the tech creators how they are enabling the transformation from linear to dynamic digital supply networks

Email us if you want to meet the Loadsmart team at the summit or if you want to learn more.

LOADSMART APPOINTS NEW HEAD OF OPERATIONS

Today, Erik Malin was appointed as our new head of operations. The appointment follows a year of sustained, rapid growth during which thousands of loads for companies like Anheuser-Busch, Safeway and Albertsons were moved over our platform and shippers such as Daimler Trucks North America connected to our API to digitize their spot freight execution.

In his role, Erik will be responsible for running, growing and scaling our operations. He will report into Ricardo Salgado, CEO, who will now mainly focus on company strategy and leadership as the companies continues to experience hyper growth.

“Erik’s industry and technology knowledge combined with his experience in managing and scaling high-growth teams, make him a real asset to team,” said Ricardo Salgado, CEO, Loadsmart. “Empowering people with data and technology is very different from mere automation. Erik recognizes how the use of both can streamline and expedite the traditional brokerage model and have a positive impact on the logistics industry.”

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Erik Malin, head of operations, Loadsmart

Erik hails from truckload broker AFN where he was responsible for strategy. Prior to that, he ran a boutique strategy consultancy where he advised publicly-traded and hyper-growth private logistics companies on growth opportunities and related change management initiatives.

“Loadsmart has done an excellent job of assembling a team of highly-talented, curious and driven individuals,” said Erik Malin, head of operations, Loadsmart. “New entrants often turn to technology only and disregard important industry intricacies. It’s rare to find a logistics technology company that encapsulates both aspects with the aim to build a better platform for shippers and carriers.”

Loadsmart was the first to introduce a truckload instant pricing/booking algorithm in the US in 2015, followed by the launch of our One-Click load-acceptance app for carriers later that same year. In 2016, we were the first to introduce an instant pricing API for TMS integrations.

Interested in a career at Loadsmart? We’re hiring.

Intelligent optimization is the future of effective transportation management

As we’re approaching the Retail Supply Chain Summit: New York and I’m preparing for my panel conversation with supply chain managers from large retailers/manufacturers, a recent Deloitte study – Embracing a Digital Future – caught my eye.

According to the study, 79 percent of companies with high-performing supply chains achieve above average revenue growth. Yet, very few companies include supply chain managers in their boardrooms. Businesses that have applied big data analytics to their supply chain functions have seen a reduction in costs, improved risk management, shorter cycle times, more accurate forecasting, and an overall improvement when it comes to making informed decisions.

Read More »

Working Towards a Slavery-Free Supply Chain

Last Wednesday, in an urgent and moving testimony before the Senate Foreign Relations Committee on “Ending Modern Slavery,” actor and tech investor Ashton Kutcher pressed the importance of using technology in the fight against human trafficking. Citing the significant impact a suite of web-based tools developed by Thor, a company co-founded and chaired by Kutcher, has had on rescuing victims, the actor called on U.S. legislators to direct further funding for the development of additional products and technologies to help combat modern slavery.

We couldn’t have argued it better ourselves.

We are firm believers in the transformative power of technology (we are a technology company after all) and its capacity to change the world for the better. In fact, this simple belief powers pretty much everything we do: fundamental to all our efforts is the creation of abundant value—for our immediate customers, yes, but also for individuals and businesses across the supply chain and beyond too. That’s also why in recent months, we’ve focused on identifying ways we can leverage our data, technology, and industry partnerships to help bring an end to human exploitation and sex trafficking.

That human trafficking affects nearly every country, in nearly every geography, is sublime in the darkest sense of the word, a clear affront to our common humanity. No wonder the UN calls it the crime that “shames us all.” And yet trafficking in persons remains staggeringly persistent, at once both nearer and more common than most realize. Victimizing nearly 21 million women, men, and children around the world, this modern-day form of slavery is the second-largest illicit industry behind drugs, generating an estimated $150 billion in illegal profits annually. At home in the US, trafficking takes place in towns and cities in all 50 states and places nearly 300,000 children at risk each year.

For everyone at Loadsmart, the moral imperative couldn’t be clearer: “We take our impact seriously and we’re dedicated to working for the common good and doing what’s right, in addition to being deeply passionate about building transformative technology for logistics,” explains our Chief Commercial Officer Diego Urrutia. Urrutia’s proximity to human trafficking is particularly personal: his wife, Kristin Pisarcik, was part of the award-winning team of journalists at ABC News that broke the story about America’s domestic sex trafficking issue and spent half a decade reporting on victims of the crime and local and national efforts to stamp out the issue.

What We’re Doing to Help

Current efforts, like the software developed by Kutcher’s Thor, demonstrate technology’s potential as a force for good and its power to disrupt human trafficking. Learning from and building upon these successes, our engineers are hard at work exploring and developing new features and tools to add to our products that will aid the cause. Currently, and notably, we are iterating through an update to our mobile driver app that will allow truckers to instantly connect with The National Human Trafficking Hotline to quickly provide tips, seek services, request help, or alert authorities—all without leaving our app.

tat-logo-transparentWe’ve also recently teamed up with Truckers Against Trafficking (TAT) to help educate, equip, empower, and mobilize our partners—shippers, carriers, and drivers—to
combat domestic human trafficking. Since 2009, TAT has worked tirelessly to rally America’s 3.4 million truck drivers and members of the trucking industry to prevent human trafficking on US highways.

As the eyes and ears of the nation’s roads, tuckers have proved to be effective allies in the effort to halt trafficking. With the help of TAT, members of the trucking industry have become one of the fastest growing demographics of callers to the National Human Trafficking Resource Center in the country, generating 503 cases of sex trafficking involving some 1098 victims.

We are proud to support TAT’s impactful work to combat this crime and look forward to partnering with others in the industry as we put the brakes on child sexual exploitation and human trafficking.

— Gordon Bottomley

Update: March 1, 2017
This post has been updated to reflect new data released on the number of sex trafficking cases and victims reported to the National Human TraffickingResource Center by members of the trucking industry.

WATCH: Ashton Kutcher delivers his opening statement before the Senate Foreign Relations Committee on ending modern slavery and human trafficking.

Loadsmart SmartWay Transport Partnership

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January 15, 2015

LOADSMART JOINS U.S. EPA SMARTWAY TRANSPORT PARTNERSHIP

New York, New York — Loadsmart today announced that it joined SmartWay Transport Partnership, an innovative collaboration between the U.S. Environmental Protection Agency (EPA), an industry that provides a framework to assess the environmental and agency efficiency of goods movement supply chains.

Loadsmart will contribute to the Partnership’s savings of 144.3 million barrels of oil, $20.6 billion in fuel costs, 61.7 MMT of carbon dioxide (CO2 ), 1,070,000 tons of nitrogen oxides, and 43,000 tons of particulate matter, the equivalent of taking 13 million cars off of roads.

Developed jointly in early 2003 by the EPA and Charter Partners represented by industry stakeholders, environmental groups, American Trucking Associations, and Business for Social Responsibility, this innovation program was launched in 2004. Partners rely upon SmartWay tools and approaches to track and reduce emissions and fuel use from goods movement. The Partnership currently has over 3,000 Partners including Shipper, logistics companies, truck, rail, barge and multimodal carriers.

Loadsmart is a proud advocate for a cleaner environment. Our goal is to reduce the total number of deadhead miles travelled annually until they are eliminated completely. 

For more information on Loadsmart visit www.loadsmart.com or call 1-646-88-SMART.
For information about the SmartWay Transport Partnership visit www.epa.gov/smartway