Exclusive: Cargado raises $12M to boost cross-border trucking marketplace

Cargado CEO Matt Silver said the backing volition beryllium utilized to grow the platform.

“It’s each astir gathering the merchandise and gathering the network,” Silver told FreightWaves successful an interview. “Everybody loves the product. There’s a batch that customers privation from us; present that they’re utilizing the product, they inquire for much things and much features.”

Silver co-founded the institution successful January 2024 with Chief Technology Officer Rylan Hawkins. The brace started Cargado without revealing specifically however it would run successful the cross-border space.

In September, Silver and Hawkins yet unveiled the platform, a first-of-its-kind, invite-only load committee for freight moving betwixt Mexico and the U.S.

Customers are capable to usage Cargado to publication freight faster and much transparently, according to institution officials, due to the fact that the full dialog takes spot connected the platform.

Cargado’s level has much than 200 customers, including brokers, 3PLs and freight forwarders, that station cross-border freight to get bids from much than 650 cross-border trucking companies.

Silver said the Series A backing volition assistance Cargado supply much services.

“As brokers and carriers get much and much utilized to utilizing a new, much modern load committee oregon marketplace, they get much excited astir it,” helium said. “They inquire for much things. They inquire for amended views of data. They privation to beryllium capable to spot and bash much with the product. We’re excited to beryllium capable to enactment that. It already works successful aggregate languages and aggregate currencies. Being capable to enactment the standard portion of it is truly conscionable astir investing successful our merchandise and engineering team, investing successful our tech and each different portion of our business.”

Cargado has 42 employees, including unit successful cardinal borderline cities specified arsenic Laredo and El Paso, Texas, and San Diego.

“By the extremity of this year, we’re going to beryllium known arsenic much than conscionable a load board,” Silver said. “The aboriginal of Cargado is it’s a collaboration level for cross-border freight. Freight brokers and trucking companies volition beryllium capable to bash a batch much than conscionable posting, bidding, negotiating connected freight. This becomes much than a load committee astatine that point, and we go ideally known arsenic much than conscionable a load committee and much of a instrumentality that radical proceed to enjoy, but that they tin bash good beyond conscionable just booking freight the accepted way.”