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Freight Marketplace Cargado Raises $12M to Expand Operations
Cargado, a load board company, has successfully raised $12 million in a Series A funding round to enhance its cross-border freight marketplace. This funding follows an earlier $10 million raised and is aimed at improving product development and expanding its marketplace offerings. CEO Matt Silver highlighted the company’s ambition to evolve beyond merely being a traditional load board, aiming to establish a collaborative platform for freight brokers and trucking companies. Since launching publicly six months ago, Cargado has seen impressive growth, attracting over 200 customers and 650 carriers.
The recent funding was led by LGVP, with input from existing investors and new participants, reflecting strong confidence in Cargado's vision. The company is optimistic about the durability of nearshoring trends, where businesses relocate operations closer to domestic markets despite tariff uncertainties. Cargado admits that while the technology supporting cross-border freight has not kept pace with the evolving market needs—especially as Mexico has become a pivotal trading partner for the U.S.—the company is determined to integrate various processes currently managed through disjointed communication methods into one streamlined platform.
From my perspective, Cargado's initiative to consolidate communication and operational workflows using technology is critically timely. The logistics sector has long been plagued by inefficiencies stemming from archaic methods that rely on multiple communication channels. By harnessing a single platform, Cargado can significantly enhance collaboration between freight brokers and carriers, paving the way for a more efficient future in transportation logistics. This shift is essential as the industry increasingly grapples with complexities posed by global trade dynamics and regional supply chain adjustments.
The recent funding was led by LGVP, with input from existing investors and new participants, reflecting strong confidence in Cargado's vision. The company is optimistic about the durability of nearshoring trends, where businesses relocate operations closer to domestic markets despite tariff uncertainties. Cargado admits that while the technology supporting cross-border freight has not kept pace with the evolving market needs—especially as Mexico has become a pivotal trading partner for the U.S.—the company is determined to integrate various processes currently managed through disjointed communication methods into one streamlined platform.
From my perspective, Cargado's initiative to consolidate communication and operational workflows using technology is critically timely. The logistics sector has long been plagued by inefficiencies stemming from archaic methods that rely on multiple communication channels. By harnessing a single platform, Cargado can significantly enhance collaboration between freight brokers and carriers, paving the way for a more efficient future in transportation logistics. This shift is essential as the industry increasingly grapples with complexities posed by global trade dynamics and regional supply chain adjustments.