Loadsmart raises $90 million to further consolidate its one-stop freight and logistics platform – TechCrunch
Leading on-demand digital freight platform Loadsmart has raised a $90 million Series C funding round, led by funds under management by BlackRock, and co-led by Chromo Invest. In addition to TFI, the round also saw renewed investment from Maersk, a global oceanic shipping leader and one of Loadsmart’s strategic backers since its Series A round. The company says it has increased its revenues by 250% across 2020, while at the same time managing to keep its operating expenses flat. In a press release announcing the news, the company seemed to take indirect shots at competitors including Uber Freight and Convoy by noting that it has achieved its growth through “organic” means, rather than “by subsidizing its customers’ freight spend” through aggressive pricing. Loadsmart offers booking for freight transportation across land, rail and through ports, all from a single online portal.