[NEWS] Digital Freight Platform Loadsmart Raises $90M in Series C Funding Round Led by BlackRock’s Managed Funds

Strategic Investors Include Maersk and TFI International

Loadsmart, a leading digital freight technology company, today announced the successful completion of its Series C fundraising. The $90 million round was led by BlackRock, Inc.’s managed funds and included prominent strategic investors from the transportation space such as TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, and Maersk, the world’s leading ocean carrier and a Loadsmart investor since Series A. The deal was co-led by Chromo Capital, with participation from Perry Capital, founded by Richard C. Perry; and Bramalea Partners, recently founded by Andrew Boyd, former head of global equity capital markets at Fidelity Investments. Goldman Sachs & Co. LLC served as Loadsmart’s financial adviser and Paul Hastings as its legal adviser.

The funding round cements Loadsmart’s position as a leader in the digital freight space. Loadsmart’s fiscally conservative strategy is unique among digital competitors and has allowed for capital-efficient, sustainable growth. Instead of growing by subsidizing its customers’ freight spend, the company focuses on organic growth driven by operational excellence coupled with API integrations, developing the technology to provide true value-added services to its customers. Loadsmart has grown revenues 250% since January 2020 while improving service quality, increasing gross margins and keeping operational expenses at 2019 levels.

“As the secular shift from analogue to digital has continued to accelerate throughout the logistics industry, in which volatility has become the norm, we are proud to help our customers leverage Loadsmart’s technology to secure capacity and exceptional service,” noted Ricardo Salgado, Loadsmart co-founder and CEO.

With the highest percentage of employees in software development and data science roles in the digital freight industry, Loadsmart was the first to market with the following: truckload instant pricing and booking in 2015; server-to-server autonomous truckload booking via API and TMS integrations in 2016; and drayage and transload digital services in 2019. This tech-first approach has allowed the company to set in place a fully scalable and automated distribution model. As a result, 85% of Loadsmart revenue is now generated (quoted and booked) with full automation.

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[NEWS] Loadsmart Announces Multimode Expansion to Less-Than-Truckload and Rail

Leading Digital Broker Offers Industry-First Mode Optimization Across Full Truckload, Less Than Truckload, Partial, Rail and Drayage

NEW YORK, Nov. 10, 2020—Loadsmart, a leading digital freight technology company, today announced the expansion of its Multimodal Services to include less than truckload (LTL) and rail. The first digital freight broker to offer truly multimodal solutions, Loadsmart now enables customers to book shipments in North America across all major transportation modes, building on existing capabilities for full truckload (FTL), port drayage and transload.  

“Loadsmart is now a one-stop-shop logistics solution for domestic freight,” said Felipe Capella, Loadsmart co-founder and president. “We want shippers to focus on their core business instead of having to select and manage multiple providers to solve their many logistics needs.”

In addition to giving shippers more choices, Loadsmart now offers mode optimization services, identifying opportunities to secure lower rates and more reliable capacity by selecting the best mode for each load in real time. The company has already begun offering expanded Multimodal Services to a select number of customers, and has seen rapid adoption. Through mode optimization, Loadsmart is actively helping shippers move loads originally planned as FTL via partial, LTL or rail, reducing cost by as much as 24%.

Loadsmart was the first to introduce FTL instant pricing and booking in 2015, executed the market’s first server-to-server autonomous truckload booking via API integrations to TMS in 2016, and offered the first digital drayage and transload services in 2019. In Q2 2020, the company added more customers via direct integration with the shipper’s TMS than in all of 2019, and this trend accelerated further in Q3 2020. These vital TMS integrations allow rates, tenders, tracking and invoicing to flow automatically between Loadsmart and the customer, delivering unmatched visibility to the shipments.

“Having invested in digital infrastructure by partnering with companies like Oracle, BluJay, MercuryGate and Blue Yonder, we’re now building on this foundation by offering a broader range of logistics services across LTL, partial and rail,” added Capella. “Looking ahead to 2021, we will be adding these services to existing TMS integrations.”

“Mode optimization is a critical component to the supply chain strategy, unlocking cost savings and reducing waste caused by suboptimal decision making,” said Jim Nicholson, vice president of operations at Loadsmart. “Loadsmart leverages data, integrations and algorithms to provide a best-in-class solution, allowing our customers to streamline the transportation of their goods.”

All shippers will be able to book FTL, LTL and drayage moves directly on www.loadsmart.com. For rail bookings, companies can work directly with Loadsmart’s account management team.

About Loadsmart

Transforming the future of freight, Loadsmart leverages artificial intelligence, machine learning and strategic partnerships to automate how freight is priced, booked and shipped. Pairing advanced technologies with deep-seated industry expertise, Loadsmart fuels growth, simplifies operational complexity and bolsters efficiency for carriers and shippers alike. For more information, please visit: https://loadsmart.com.

[WEBINAR] The First Steps Toward Digital Transformation In Freight

With a tumultuous year nearly behind us, heading into 2021, transportation leaders are asking, “how can we be more prepared next year, and where should we invest resources?” 

Transportation is becoming increasingly efficient as shippers embrace digital transformation and integrate systems and processes.  

By taking an agile approach toward adopting freight technology, shippers eliminate operational inefficiency and avoid costly pitfalls – even in extraordinarily strained markets.

In this webinar, learn how to:

  • Eliminate overpaying for freight by building upon your TMS
  • Customize routing guides to mitigate high tender rejection – recently hovering over 25% nationally
  • Automate better and more profitable business decisions

To Our Carriers: Thank You

These are uncertain times, but you’re not letting that stop you from keeping America running.

Only a couple of weeks ago, transportation was humming along as usual: freight volumes were normal and flat and carriers were only rejecting their contracted loads 4% of the time.

Since COVID-19 has gripped America’s conscious and economy in early March, carriers have been faced with an unprecedented surge in shipments that eclipsed records previously set in 2018.

FreightWaves Sonar

Freight volume seemingly grew +30% over night and tender rejections grew to their highest point in several months.

This surge has forced truckers to spend even more time on the road and less time with their families… all to keep grocery store shelves full and pharmacies fully stocked.

From everyone at Loadsmart, we want to thank our carriers for their work and acknowledge their sacrifice.

And while you’re out there for all of us, we’ll be here for you.

To our carriers, thank you for giving Loadsmart the opportunity to make your job a bit easier in a difficult time. Together, we keep America running: https://hubs.ly/H0p11sG0