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Cargomatic Gets New Funding as Rebuilding Effort Gains Traction

A $35 million injection will help the business expand after its rocky start in the freight

A $35 million injection will help the business expand after its rocky start in the freight load-matching technology sector

“Freight load-matching specialist Cargomatic Inc. has raised $35 million in new backing as the company rebuilds after a rocky startup period when the business burned through cash and coped with a flurry of employee departures.

The Series B funding round, led by private-equity firm Warburg Pincus, will help the Long Beach, Calif., company expand into new markets and hire more staff, Cargomatic said Wednesday.”

Read the Full Article by The Wall Street Journal

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