Cargomatic
{{Short description|Californian logistics company}}
{{Infobox company
| name = Cargomatic
| logo = Cargomatic (Company) Logo.png
| industry = Trucking software, Logistics
| location = Long Beach, California
| foundation = {{start date and age|2013}}
| key_people =
- Richard Gerstein (CEO)
- Steve Jackson (Chief Administrative Officer)
- Weston LaBar (Head of Strategy)
- Matt Hogan (Chief of Staff)
- Michael Neller (EVP, Sales)
- Sunil Sharma (Chief Product and Technology Officer)
- Laura Lucas (Chief People Officer)
- John Curtis (Chief Financial Officer)
| website = {{url|https://cargomatic.com}}
}}
Cargomatic is a logistics company founded in 2013 by Brett Parker & Jonathan Kessler,{{cite web|url=https://www.latimes.com/business/la-fi-cargomatic-20140927-story.html|title=Cargomatic’s mobile technology connects truckers to short-range jobs|date=September 27, 2014|last1=Dave|first1=Paresh|language=en-US|website=Los Angeles Times|access-date=2019-12-17}} based in Long Beach, California specifically targeting the fragmented short-haul and drayage trucking markets connecting shippers and carriers real-time with its crowdshipping web platform and mobile app.{{cite web|url=https://www.cargomatic.com/|title=Cargomatic - Instantly Connecting Shippers with Local Carriers|website=Cargomatic}}{{cite web|url=https://www.bloomberg.com/profile/company/1235537D:US|title=Bloomberg Cargomatic|website=Bloomberg}}{{cite web|url=https://www.economist.com/news/business/21693946-digital-help-hand-fragmented-and-often-inefficient-industry-appy-trucker|title=Road Haulage - The appy trucker|date=March 5, 2016|language=en-US|website=The Economist|access-date=2019-12-16}}
Focus
The company focuses on assisting shippers and carriers in the trucking industry through the following segments:{{bulleted list |Capacity utilization – Maximizing carrier truck capacity to reduce empty runs.{{Cite web|url=http://www.localgovsharingecon.com/uploads/2/1/3/3/21333498/localgovsharingecon_report_full_oct2015.pdf|title=Local Governments and the Sharing Economy – A roadmap helping local governments across North America strategically engage with the sharing economy to foster more sustainable cities|date=October 1, 2015|last1=Cooper|first1=Rosemary|last2=Timmer|first2=Vanessa|website=One Earth – Local Gov Sharing Econ|language=en|access-date=2019-12-16}}|Gig economy – Allowing truckers to do additional jobs, or owner operators to be their own bosses.{{Cite web|url=https://www.trucks.com/2016/03/07/trucking-start-up-cargomatic-wants-to-be-shippings-uber/"|title=Trucking Start-Up Cargomatic Wants to be Shipping’s Uber|date=March 7, 2016|last1=Ockedahl|first1=Carina|language=en-US|website=Trucks.com|access-date=2019-12-17}}|Drayage – Minimizing wait times to relieve congestion at ports such as the Port of Los Angeles and Port of Long Beach.{{Cite web|url=https://www.ttnews.com/articles/port-la-test-cargomatic-service-seeks-speed-freight-movement|title=Port of LA to Test Cargomatic Service, Seeks to Speed Freight Movement|date=August 6, 2015|language=en|website=Transport Topics|access-date=2019-12-16}}|Less than truckload shipping – Assisting shippers without fleets, or shipper fleets that are at or over capacity by adding supplemental drivers.}}
Funding
In 2016, at the close of Series A funding, Cargomatic raised a total of $20.8M from investors including Morado Ventures, Canaan Partners, Sherpa Capital, and SV Angel.{{cite web|url=https://www.latimes.com/business/technology/la-fi-tn-la-tech-20160509-snap-htmlstory.html|title=Los Angeles Times - Technology - May 9th 2016|last1=Dave|first1=Paresh|date=May 9, 2016|language=en-US|access-date=2019-12-16|website=Los Angeles Times}} In 2018, Cargomatic raised $35M in its Series B funding{{Cite web|url=https://www.wsj.com/articles/cargomatic-gets-new-funding-as-rebuilding-effort-gains-traction-1534341629|title=Cargomatic Gets New Funding as Rebuilding Effort Gains Traction|last1=Smith|first1=Jennifer|date=August 15, 2018|website=WSJ|language=en-US|access-date=2019-12-12}} from Warburg Pincus, Canaan Partners and Genesee & Wyoming.{{Cite web|url=https://www.businesswire.com/news/home/20180207006290/en/Genesee-Wyoming-Announces-Investment-Cargomatic|title=Genesee & Wyoming Announces Investment in Cargomatic|date=July 2, 2018|website=Business Wire|language=en|access-date=2019-12-12}}
References
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Category:Companies based in Los Angeles
Category:Warburg Pincus companies
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