Leading Digital LTL Shipping Platform MyCarrier Raises $8 Million in Series A Funding
Designed to streamline the freight shipping process, MyCarrier offers a transportation management solution to directly manage shipping needs with carriers
SCOTTSDALE, Ariz., March 23, 2021 /PRNewswire/ -- MyCarrier, an Arizona-based tech-enabled transportation management platform designed to revolutionize the shipment workflow process and provide shipping data transparency, today announced that it has closed an $8 million Series A round co-led by Greycroft and Lerer Hippeau, with participation from Andrew Leto, Founder and CEO of Emerge.
MyCarrier's platform streamlines the freight shipping process to offer customers direct access to carriers for shipping needs, bypassing intermediaries and eliminating system contracts. The company's complementary and easy-to-use interface empowers shippers with complete data visibility. Through the connectivity of modern and dynamic APIs, MyCarrier gives customers the ability to compare rates and shipments, identify shipping commitments and exceptions, and track deliveries. The platform connects directly with over 99% of freight revenues to digitize and streamline the freight shipment process for both shippers and carriers.
"We created MyCarrier to solve for the gap between shippers' ability to directly connect with carriers. By automating the process, carriers and shippers are able to effectively collaborate to save time and money," said Michael Bookout, MyCarrier's Co-Founder. "We're excited to work with our investors and industry veterans to increase the number of successful partnerships between carriers and shippers."
As a data and technology company uniquely dedicated to the logistics industry, MyCarrier allows small-to-midsize businesses to have access to a robust direct-to-carrier transportation management platform without the added cost of an intermediary. MyCarrier increases carriers' and shippers' process visibility to compare quotes, coordinate shipping needs, and track carrier visibility and exceptions on one platform. The multi-carrier SaaS application allows shippers to route, manage, and measure the entire shipping experience, helping those who coordinate 10 shipments per day to save over 11 hours in booking efficiencies each month. Additionally, carrier partners save a minimum of 5% per dispatched shipment through increased efficiencies.
"MyCarrier provides powerful technology that carrier sales teams distribute to their shippers," said Will Szczerbiak, Partner at Greycroft. "The platform brings the entire booking process online and adds a level of transparency that never existed. We are proud to support MyCarrier's mission of driving major efficiencies for both shippers and carriers in the freight booking process."
MyCarrier's easy-to-use platform has attracted the top technology forward collaborators including Old Dominion Freight Line, Saia LTL Freight, ArcBest, and more. As one of the fastest growing LTL technology platforms in the transportation market today, over 15 carriers use MyCarrier as their platform of choice for customers.
"Customer connectivity is critical in the digital age. The LinkExTMS platform, developed for us by MyCarrier, is in direct alignment with our strategies on customer connectivity and providing a superior customer experience," said Ray Ramu, Chief Customer Officer at Saia LTL Freight. "We look forward to the future success of our partnership and congratulate MyCarrier team in closing on their Series A."
"Mike and Chris have assembled the technology and team to reshape the freight management process and empower industry leaders to operate with a new level of efficiency and sophistication," said Graham Brown, Partner at Lerer Hippeau. "We're excited to support MyCarrier as they continue to build out their platform to provide shippers and carriers with opportunities for additional growth."
In 2017, Chris Scheid and Michael Bookout co-founded MyCarrier as a technology and data company creating transportation management systems through white label solutions. Prior to this, the pair previously worked at GlobalTranz, a technology-driven freight brokerage with over 25,000 shippers, where Chris served as the VP of Pricing and Michael led as Chief Strategy Officer. With the new round of funding, MyCarrier will continue to invest in industry changing technology to unleash additional efficiencies.
"MyCarrier's innovative platform has the power to transform the way shippers and carriers work together with the free, no term contract TMS solution," said Todd Polen, VP Pricing Services at Old Dominion. "As a partner of MyCarrier, we feel that the digital engagement this software offers has helped us automate the shipment process directly with shippers. Additionally, the powerful underlying data intelligence allows our teams to continuously assess market share and profitability for all key network participants."
About MyCarrier
MyCarrier is a transportation management platform designed for carriers and companies that would like to control their shipping needs directly with their carriers. No intermediaries, no system contracts, just you and your carriers. mycarrier.io
About Greycroft
Greycroft is a seed-to-growth venture capital firm that partners with exceptional entrepreneurs to build the world's most transformative companies. They have deep experience in both consumer and enterprise technology and have made over 300 investments, including Acorns, Bird, Huffington Post, Icertis, Plated, Scopely, Shipt, TheRealReal, Thrive Market, Trunk Club, and Venmo. www.greycroft.com
About Lerer Hippeau
Based in New York City, Lerer Hippeau empowers early-stage founders with the capital and tools they need to build ideas into category-defining companies. Founded by a team of operators, the firm invests across all sectors, backing entrepreneurs with product vision, customer insight, and a keen instinct for brand building. www.lererhippeau.com
SOURCE MyCarrierTMS
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