Loadsmart Releases Q4/20 Numbers: Year-Over-Year Revenue Growth of 208%
Loadsmart, a leading digital freight technology company, reported a 208% Q4/20 year-over-year revenue growth, despite a particularly challenging year for the commercial transportation industry. The substantial revenue increase — 85% of which is recurring automated revenue with no human intervention — was driven by continued product innovation, strategic partnerships, and a record number of direct integrations with large shippers.
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“Loadsmart is ideally positioned to help shippers and carriers adapt and thrive,” said Felipe Capella, president, COO and co-founder of Loadsmart. “Prior to the pandemic, the long-overdue digital transformation was pushing a secular shift from analog to digital and brick-and-mortar to online. What we have seen was an accelerated process, something that might have taken two years to a matter of months. Companies that invested in technology early were better able to weather the storm caused by the pandemic.”
Loadsmart has also seen a quick adoption of the new digital modes of transportation it launched by the end of the year, including LTL, Rail and Partial.
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“We have a very exciting roadmap for 2021 – as we want to keep adding value to shippers and carriers way beyond the regular brokerage matchmaking and compliance story. We are not here for the arbitrage game, we are here to help both sides of the marketplace to become more efficient via technology,” said Capella.
“The opportunity for Loadsmart to build on our current momentum and continue to redefine the future of freight has never been better. We look forward to helping our shipper and carrier customers leverage technology to navigate the recovering supply chain and move more with less—well into 2021 and beyond.” said Ricardo Salgado, chief executive officer at Loadsmart.
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