Cargado Launches Load Board Solution for US-Mexico Freight

Emerging logistics innovator Cargado publicly announced the official launch of its load board product yesterday, following a successful quiet rollout on April 1, 2024. In less than six months, Cargado has onboarded over 60 clients, establishing seamless connections between logistics providers and nearly 300 US-based trucking companies.

“We have poured a lot of love into the fine details of this product and the reason is to cut down on all the back and forth and bring significantly better visibility to everyone in the industry. We are really proud of the product we have built and, as it continues to grow, the impact we believe our software can have on the industry can be massive,” says Matt Silver, Co-Founder and CEO, Cargado. 

Cargado’s platform operates as an invite-only load board for freight moving to and from Mexico, allowing consistent opportunities for customers to post spot freight and other services, such as request for proposal (RFP) or mini-bids, from Canada and the United States to Mexico and vice versa. 

Silver explains how Cargado’s platform enables providers — including brokers, freight forwarders, and third-party logistics (3PL) firms — to post loads and receive competitive bids from a diverse array of trucking companies. This streamlined process enhances negotiation efficiency and promotes transparency throughout the logistics chain, resulting in faster bookings and improved reliability, while simplifying freight transactions. 

In January 2024, Cargado secured US$3 million in a pre-seed funding round from several prominent investors, including Ironspring Ventures, Wischoff Ventures, Zenda Capital, Proeza Ventures, Sahil Bloom, Craig Fuller, and other angel investors. This infusion of capital is instrumental in supporting Cargado’s mission to streamline cross-border logistics and create a seamless and efficient experience for all users, as previously reported by MBN.

Cargado serves as a vital resource for shippers looking to source capacity and unlock new business avenues. Its carrier network boasts over 44,000 trucks and 130,000 trailers, featuring a wide range of equipment types, including vans, reefers, flatbeds, and specialized trailers.

"This launch is the culmination of our team's months-long effort to build something truly novel for everyone involved in cross-border freight. This is the first step in our ambitious vision for a truly vertically integrated freight experience," says Rylan Hawkins, CTO, Cargado.

Cargado prioritizes security and trust within the logistics community. Its invite-only model effectively mitigates risks associated with fraud and double brokering, ensuring that only thoroughly vetted participants gain access to the platform. 

Looking ahead, Cargado plans to integrate with Transportation Management Systems (TMSs) to enable brokers to effortlessly post and cover their freight. The company is also working with various technology partners to ensure the safest and most trustworthy experience in the industry.