Cargomatic app gets $8M investment

Jan 30, 2015

Updated Feb 2, 2015

Cargomatic, an app that aims to connect local shippers and carriers, announced this week it has received $8 million in investments, led by Canaan Partners, the company says.

Joining Canaan in the investment is Volvo Group Venture Capital, Rob Estes of Estes Express, Morado Venture Partners, SV Angel, Sherpa Ventures, Winklevoss Capital, Structure Capital, Nicolas Berggruen, Scott Banister, Fritz Lanman and Hank Vigil.

Cargomatic’s target users are local trucking companies and shippers. It uses a desktop service and a mobile app that functions similarly to a loadboard, in which shippers post loads and carriers select them.

Cargomatic produced this video to show how the service works:

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