Loadar funding news – Freight procurement and Management Tool Loadar has Secured $4 Million in Seed Funding

Outdated systems like outsourcing, old in-house models, and Transport Management Systems (TMS) that don't fit large businesses have made the industry inefficient.

Loadar provides an advanced and streamlined solution, automating processes and offering real-time tracking of freight. It also easily integrates with most major business systems.

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Loadar is already up and running, serving clients, including top sustainable packaging companies. Founder and CEO Ciaran Doherty has extensive experience in logistics and operations, having worked for over five years with Northern Irish public transport provider Translink and later as Vice President of Foodservice UK at packaging company Huhtamaki.

He says: “For the super-large enterprises moving product all over the globe, transport procurement and management is a major expense both financially and in terms of time. Teams are often individually managing hundreds of carrier relationships, it truly has become an impossible task to do well. Third-party logistic (3PL) companies are inefficient and fail at promoting crucial strategic partnerships between shippers and their carriers. It’s a challenge in need of a solution.”

Doherty estimates that shipping logistics usually cost 7-8% of a company's revenue, which is a huge expense for large businesses making billions. Loadar believes users can cut transport costs by 15% by simplifying processes. By digitizing the whole workflow, it also allows real-time tracking of freight in the supply chain.

Frontline Ventures led the funding round, with additional support from existing investor Techstart Ventures.

Will Prendergast, Partner at Frontline Ventures, says: “Managing transport costs and reducing carbon footprint are two of the top priorities for large manufacturers. Loadar is unique in that it tackles both of these topics together, achieving significant cost savings for clients by reducing empty leg journeys for transport companies. It's a win, win-win scenario for manufacturers, transport carriers and the climate.”

Funding Utilisation

The funds will help Loadar expand into the US, where there’s a big opportunity for growth. It will also support growing the team, which plans to double in the next year.

About Loadar

At Loadar, they’re changing how Shippers and Carriers work together. There solutions cover road, sea, air, and rail, making logistics easier. They improve Carrier efficiency to help Shippers save costs. Loadar simplifies transport sourcing and gives Shippers direct tools to work with Carriers, removing the need for outsourcing and offering a more efficient solution for freight management.