- $6 Million Round Provides Innovative Cloud-Based Logistics Management Company Growth Capital
Mercato Partners announced a $6 million investment in FreightPOP, the innovative logistics management platform company based in Lake Forest, Calif., through its venture fund, Prelude, which focuses on capital and guidance for early stage companies. Using cloud technology to create a centralized transportation management system, FreightPOP streamlines the logistics industry and fills an ever-growing need in the global economy.
Started in 2016 by industry veterans Kurt Johnson, Doug Henrriquez and Justin Dickson, FreightPOP is the platform for companies of all sizes to manage their supply chains. Manufacturers, retailers, ecommerce providers, distributors and 3PL firms can integrate FreightPOP into their existing technology stacks to manage costs and ensure timely supply, enabling a comprehensive view of their transportation logistics.
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“The role of supply chains and their interconnected importance to the global economy are increasingly understood and appreciated more than ever following the disruptive COVID pandemic,” said Davis Warnock, managing director for Mercato’s Prelude Fund. “FreightPOP is uniquely positioned to improve and speed all aspects of today’s global transportation management system by eliminating waste and delay. We share their vision and are pleased to support this incredible team.”
FreightPOP’s cloud management platform has the advantage of being a solution for shipping built by industry veterans in logistics management, striking the correct balance of power, cost and ease of implementation. By seamlessly tying into existing ERP systems, supporting the full spectrum of transport options, rate shopping, and integrating shipment tracking, FreightPOP delivers a comprehensive, compatible solution for all players in the global economy.
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“Mercato Prelude Fund has experience working with companies trying to change the status quo,” said Kurt Johnson, FreightPOP CEO. “Partnering with the team at Prelude provides us with valuable experience gleaned from companies like ours to scale, grow and change the marketplace. Davis and his partner, Zach Sivertson, share our values and we are thrilled to leverage their deep knowledge and investment at one of the most critical junctures in our industry.”
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