HomeBusinessLoadsmart valuation hits over US$1 billion after SoftBank-led funding round

Loadsmart valuation hits over US$1 billion after SoftBank-led funding round

Freight tech agency Loadsmart mentioned on Tuesday it was valued at US$1.3 billion in its newest funding round, led by SoftBank Latin America Fund and funds managed by BlackRock Inc.

The firm raised US$200 million within the Series D funding round from traders together with Janus Henderson Group and rail operator CSX Corp.

Chicago-based Loadsmart, which helps delivery and trucking firms join with prospects by way of its platform, plans to make use of the proceeds to quickly broaden its know-how choices and enhance provide chain efficiencies.

Founded in 2014, Loadsmart mentioned its provider community has grown to greater than 680,000 vans, and skilled a 134 per cent year-over-year income development in 2021.

The firm noticed its income greater than triple within the fourth quarter of 2020, the yr when it final raised US$150 million in contemporary capital.

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