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Funding
Loadsmart raises USD 200 million in Series D funding
Truck Industry Tech
Feb 1, 2022
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Truck Industry Tech

Truck Industry Tech

View industry hub
Feb 1, 2022

Loadsmart raises USD 200 million in Series D funding

Funding

  • Loadsmart, an online freight matching solutions provider, has raised USD 200 million in a Series D funding round led by SoftBank Latin America Fund with participation from additional investor funds and accounts managed by BlackRock, CSX Corporation, and Janus Henderson Group. 

  • The round values the company at USD 1.3 billion (more than 3x the Series C valuation in November 2020) and brings the total funds raised to USD 346.4 million.

  • The company intends to utilize the funds to further expand its technology offering to improve efficiency and transparency.

  • Loadsmart also revealed that its carrier network now consists of 680,000+ trucks and has access to more than USD 2 billion worth of freight per quarter (20x increase since 2020).

<ul><li> Analyst QuickTake: Online freight matching solution providing companies are increasingly seen raising funds in such mega rounds. Such rounds include startups project44 (raised USD 420 million last month), Cloud Trucks (USD 115 million last November), and Flock Freight (USD 215 million last October) as well as incumbent Uber Freight (USD 500 million in October 2020). </ul>

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