Cargado, founded by Matt Silver and Rylan Hawkins, raises $12M Series A to create a more collaborative experience for cross-border freight.
CHICAGO — April 7, 2025 — Cargado, the first cross-border freight marketplace and load board, today announced a $12 million Series A funding round led by LGVP, with participation from new investors Conversion Capital, Assembly Ventures, Friends & Family Capital, and existing investors Primary Venture Partners, Ironspring Ventures, Zenda Capital, and Proeza Ventures. This additional funding comes on the heels of rapid growth since Cargado’s public launch just six months ago.
Cargado’s initial product is the first invite-only load board for cross-border logistics. Cargado prioritizes trust and collaboration by personally vetting all carriers before allowing them to join. This ensures a secure and transparent environment for all users and enables brokers to book freight faster and more transparently.
“Nearshoring has created an immense opportunity, but logistics companies still face significant operational hurdles moving goods across borders,” says Cargado CEO and co-founder Matt Silver. “Our mission is to eliminate friction in cross-border freight, empowering logistics providers and carriers to connect, transact, and thrive in a rapidly evolving landscape. This funding marks an exciting step forward in our journey to transform cross-border logistics.”
Despite uncertainty in the tariff environment, one thing is certain: nearshoring is here to stay. Over the past few years, Mexico has become the US’s number one trading partner, but the technology to support cross-border freight has lagged. Cargado is the first to deliver a high-standard of innovation to the historically underserved cross-border freight market.
“When the company’s customers start asking if they can invest alongside you, it’s time to pull the trigger,” said Itai Tsiddon, Partner at LGVP, which led the round. “We were greatly impressed by Cargado’s vision and look forward to partnering with Matt and the team to building it to its maximum potential.”
Cargado plans to deploy this new round of funding to accelerate product development and expand its integrated cross-border freight marketplace, to help customers manage and grow their cross-border operations. Since inception, Cargado has welcomed more than 200 customers and over 650 carriers to the platform.
“Cargado allows us to unlock trusted, vetted capacity at our fingertips,” said John Sutton, director of corporate strategy at Sunset Transportation, one of Cargado’s early customers. “Effectively leveraging Cargado enables even the most experienced and proven 3PLs servicing cross-border freight to reimagine how they source capacity, build relationships, and challenge operational norms.”
About Cargado
Founded by freight industry veterans Matt Silver and Rylan Hawkins, Cargado launched the first invite-only load board for Mexico-US cross-border freight in April 2024. Built in response to the booming demand from nearshoring, Cargado enables logistics companies to secure freight capacity faster, with unparalleled transparency and a trusted network. Since its inception in October 2023, Cargado has raised $22 Million from investors including Primary Venture Partners, Ironspring Ventures, Zenda Capital, Wischoff Ventures, Proeza Ventures, RyderVentures, LGVP, Conversion Capital, and Assembly Ventures.
