Phoenix, the U.S.A-based freight shipping platform for small and midsize shippers, MyCarrier, raised USD 22 million in recent funding. The Series B round took place on September 13, 2022. NewRoad Capital Partners led the financing for the firm. Meanwhile, Greycroft and Lerer Hippeau invested in the company.
As a part of the deal, Tracy Black, partner at NewRoad Capital, will join MyCarrier’s board of directors.
Purpose of financing for MyCarrier
With the fresh proceeds from Series B, the company seeks to accelerate its platform offerings.
MyCarrier also aims to expand its product. Further, it intends to deploy investment towards R&D. Moreover, it has plans to expand its go-to-market teams.
What the founders have to say
Michael Bookout, MyCarrier CEO and Co-founder, said, “From the beginning, our vision and approach were based on strong partnering, working hand-in-hand with carrier partners and customers to streamline the carrier and shipper experience to create exceptional business and customer outcomes.”
MyCarrier President and Co-founder Chris Scheid further added, “By doing so, we’ve been able to break down technology fears previously seen throughout the SMB market and successfully deliver never-before-offered technology. Today, we are providing small and medium-sized businesses with visibility into their supply chains, once only available to large enterprises. And it’s absolutely needed given global supply chain disruptions and chaos.”
What the investor has to say
Tracy Black, Partner at NewRoad Capital Partners, said, “Mike and Chris are industry veterans that really understand the challenges in the industry and have built an outstanding team and technology platform that is easy to use and drives major operational efficiencies for both shippers and carriers. We are excited to partner with them in the next stage of growth and apply the same great technology to additional modes and to the freight audit and payment process.”
What the customer has to say
Ray Ramu, EVP and Chief Customer Officer at Saia, said, “Carriers need more efficient ways of serving customers, providing innovative data-driven shipping solutions that are easy to implement and use. MyCarrier has provided just that; a platform that offers our customers transformative digital capabilities that streamline their shipping process. On top of that, the platform provides key insights into our customer needs and trends more effectively, dramatically improving our operational agility.”
About the company
In 2017, Michael Bookout and Chris Scheid co-founded MyCarrier. The vision is to provide a ubiquitous platform that connects small and midsize shippers and carriers instantly, without barriers, to fuel the future of the supply chain. It onboards more than 5,000 shippers, such as Lucas Oil, IPC Global, U-Haul and Malouf Home. MyCarrier enjoys platform automation partnerships with 15 top-rated LTL carriers, including ODFL, Saia, Estes, and Averitt. Besides, it has more than 70 integration carrier partners.
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