NEW YORK, March 3, 2020 /PRNewswire/ -- CB Insights today named Loadsmart, a digital freight technology company, to its fourth annual Artificial Intelligence 100 ranking, showcasing the most promising private AI companies in the world. Loadsmart is the only digital freight marketplace recognized in its category, underscoring the company's innovative approach to addressing supply chain challenges through a mix of advanced technology and deep-seated industry experience.
Loadsmart taps the power of AI and machine learning to simplify operational complexity and bolster efficiency, driving bottom line improvements for shippers and carriers. Integrating to leading transportation management systems, Loadsmart's AI-based platform enables shippers to obtain instantly bookable truck rates for thousands of shipments in seconds, while delivering carriers targeted loads based on their capacity, operating preferences and service performance.
"It's been remarkable to see the success of the companies named to the Artificial Intelligence 100 over the last four years. The 2019 AI 100 saw 48 companies go on to raise $4.9B of additional financing and nine got acquired," said CB Insights CEO Anand Sanwal. "It has been gratifying to see that CB Insights' data-driven approach to identifying the top AI companies using patents, customer traction, investor quality, market sizing and more has become so effective at picking the AI winners of tomorrow. We look forward to seeing what the 2020 AI 100 companies will accomplish over the course of this year and beyond."
In addition to disrupting core sectors including healthcare, retail and finance, the 2020 AI 100 companies are revamping the broader enterprise tech stack. These companies span the globe from the US, UK, China, Chile and South Africa, supported by more than 600 investors.
"At Loadsmart, we pride ourselves on cultivating meaningful relationships with those at the helm of the supply chain—shippers and carriers—and crafting visionary AI-based solutions to ensure they succeed and thrive," said Ricardo Salgado, CEO and co-founder of Loadsmart. "We're honored to be recognized as a leading tech innovator in the commercial transportation sector, and enthusiastically look forward to continued collaboration and growth."
Through an evidence-based approach, the CB Insights research team selected the AI 100 from nearly 5,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength and tech novelty. The Mosaic Score, based on CB Insights' algorithm, measures the overall health and growth potential of private companies to help predict a company's momentum.
Loadsmart is fundamentally transforming the freight brokerage industry through its strategic partnerships and advanced solutions, which improve freight transportation, reduce empty miles and move more with less. The company has raised $56m from investors like Maersk, the largest ocean shipping company in the world, and Ports America, the largest port terminal operator in the United States.
Quick facts on the 2020 AI 100:
As of the end of February 2020, these 100 emerging private companies have raised over $7.4B in funding across 300+ deals from 600+ unique investors.
There are 10 unicorns (companies valued over $1B) in this year's AI 100 cohort.
The list spans across various industries, including healthcare, retail & warehouse, and finance & insurance.
13 countries, such as China, Sweden, and Japan, are represented on the ranking. The majority of startups (65%) are based in the United States.
About CB Insights CB Insights helps the world's leading companies accelerate their digital strategy and transformation efforts with data, not opinion. Our Emerging Tech Insights Platform provides companies with actionable insights and tools to discover and manage their response to emerging technology and startups. To learn more, please visit www.cbinsights.com.
About Loadsmart Transforming the future of freight, Loadsmart leverages artificial intelligence, machine learning and strategic partnerships to automate how freight is priced, booked and shipped. Pairing advanced technologies with deep-seated industry expertise, Loadsmart fuels growth, simplifies operational complexity and bolsters efficiency for carriers and shippers alike. For more information, please visit: https://loadsmart.com.