202223 Mar

Kargo, which powers supply chain visibility with smart loading docks and data, raises $25M

Summary

The main Kargo dashboard serves as a “single source of truth” for a company’s entire freight and facility operations, integrating data from ERP (enterprise resource planning), TMS (transport management system), and WMS (warehouse management system). Additionally, the company has developed sensor hardware called Kargo Towers, which lean on edge computing and computer vision to capture data on-site — this enables a significant degree of automation, in terms of giving companies a more complete picture of what’s happening on the ground. “The loading dock is a critical, physical point of contact for supply chain partners where all stakeholders — shippers, LSPs, and carriers — interact,” Kargo’s CEO and founder Sam Lurye said in a statement. “For years, avoidable mistakes like miscounting a load or not catching damaged goods have caused inefficiency across the board.” Kargo had previously raised a small $6 million seed round of funding, and with another $25 million in the bank, the San Francisco-based company is well-financed to snag a sizable sector of the supply chain management market, which is pegged to become a $42 billion industry within five years. “There isn’t a single SaaS solution to tackle this problem, so we created our Kargo Towers and the accompanying platform to flag inefficiencies in real time and finally bring visibility to loading docks,” Lurye added.

Source: Venturebeat

Funding

$25M
Amount
Mar 23 2022
Date
-
Investor
Kargo
Company

Classifications

Companies