US-based freight services portal Loadsmart has received $19m in a funding round that included marine terminal operator Ports America and shipping, transport and energy group AP Moller – Maersk.
The company said the round increased its overall funding to $53.4m, and AP Moller – Maersk participated through corporate venturing subsidiary Maersk Growth.
Loadsmart has built an artificial intelligence-driven platform that enables shipping clients to reserve truck capacity on demand to carry their freight. It offers instant pricing information and guaranteed freight space on trucking routes leading to major US port terminals.
The funding will be used to help publicise the company’s Smart Drayage scheme, which encourages customers to revaluate their shipping flows with the help of its technology.
Maersk Growth led Loadsmart’s $21.6m series A round in October 2018 with participation from Connor Capital and Chromo Invest, after a $3m seed round in 2014 and $10.1m in convertible note financing in 2017 according to regulatory filings.