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Loadsmart
Logistics & Supply Chain
Loadsmart is a New York-based digital freight brokerage that uses automation and predictive pricing to match shippers with truck capacity more efficiently than traditional freight brokerage processes.
$583M
+$5.64
169.08%
30 days ago
$3.33
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Loadsmart was founded in 2014 by Ricardo Salgado and Felipe Capella, based on the observation that traditional freight brokerage, the business of matching shippers who need to move goods with trucking companies that have available capacity, has historically relied heavily on manual processes involving phone calls and faxes between brokers, shippers, and carriers, a labor-intensive and relatively slow process that Loadsmart's founders believed could be substantially automated using modern software and data-driven pricing models to more efficiently match available freight with available truck capacity. Loadsmart's platform uses predictive pricing algorithms and automation to quote and book freight shipments more quickly than traditional manual freight brokerage processes, aiming to reduce the time and manual effort shippers and carriers typically spend negotiating rates and coordinating logistics for each individual shipment, while also providing shippers with more data-driven, consistent pricing based on historical shipping lane data and market conditions rather than relying entirely on an individual broker's manual rate-setting judgment for each shipment. The company has built technology integrations that let shippers' existing transportation management systems connect directly with Loadsmart's platform to automate significant portions of the freight booking process, and has expanded its technology offerings to include tools that carriers can use to more efficiently manage and price their available truck capacity across the freight brokerage relationships they maintain. Loadsmart has navigated the same challenging freight market cycles that have affected the broader digital freight brokerage industry, including the significant "freight recession" that began in 2022 following the unwinding of pandemic-era shipping demand surges, a downturn that contributed to the collapse of some competing digital freight brokerage startups including Convoy. The company has raised substantial venture funding from investors including Tiger Global, Prologis Ventures, and QED Investors, reaching unicorn status, competing with other digital freight brokerage and technology platforms in the trucking and logistics industry.
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