Cargo Business Techwire

Friday, February 6, 2015

L.A.-based Cargomatic wants to become "Uber for truckers"

Cargomatic recently raised $8 million to expand its platform for connecting shippers with truckers who are available to help move their cargo.

Launched in 2014, the Los Angeles-based company wants to become "Uber for truckers," providing a platform through which shippers can list available jobs that local truckers with excess capacity can complete. By making the connection, the company hopes to help truckers make more money and route shipping more efficiently.

Companies can enter the details of cargo they need to ship on the Cargomatic website, and truckers can use a mobile app to accept assignments and optimize their routes.

Cargomatic scrutinizes drivers who sign up, reviewing their commercial licenses and insurance to make sure they are qualified. It also features pricing transparency, determining how much a driver should make based on the weight and distance of goods that they move.

The platform enables truckers to get paid more quickly by facilitating the invoicing and payments portion of the transaction. Shippers are asked to enter their credit card or ACH information, which Cargomatic uses to pay out truckers shortly after a job is completed.

For more of the Tech Crunch story: techcrunch.com