WillItSurvive
Logistics and supply chain companies · United States

Cargomatic

cargomatic.com ↗

Digital marketplace matching shippers with local and regional trucking and drayage carriers.

Protection under test
Assessed 23 July 2026 · Evidence as of 23 July 2026
Something worth protecting exists and is being tested right now.
On the recordSince 23 July 2026 · Checkable from late 2026 · Every call on the record Checkpoint: A new funding round or clear profitability signal, or another year without one
The call

Cargomatic has real trucks moving real freight and a fresh drayage acquisition, but no new money since 2022 in a category that has already buried better-funded rivals.

Cargomatic moves cargo by coordinating trucks and drivers, mainly for ports and local delivery. Big competitors like C.H. Robinson and Uber Freight already do this better and have way more money and AI tools to match loads faster and cheaper. The real danger is that Cargomatic has not released new funding since mid-2022, which drains cash in a business where margins are thin and trucks cost a lot, and it has not shown working AI software while rivals like Uber Freight already have it running. If Cargomatic does not raise money by late 2026 or fails to smoothly combine its recent ITG purchase into its operations, it will likely not survive as an independent company.

Why
01
AI pressure: Uber Freight, PortPro. Uber Freight already runs an AI stack across 24M loads a year and PortPro ships AI dispatch agents while Cargomatic's AI talk stays at the hiring stage. Could AI do the core job? Yes, likely.
02
Bigger players: C.H. Robinson, J.B. Hunt 360, RXO, XPO, IMC Logistics. These brokers and drayage giants already own the carrier relationships, tech budgets, and scale Cargomatic needs to compete. Could a giant copy it? Yes, easily.
03
What protects it. A real carrier network, port drayage integrations, and the ITG acquisition give it freight volume and licenses that take years to copy.
What would change this call
Cargomatic announces a new priced funding round or strategic investment by end of 2026. Would show investors still back it after no round since mid-2022.
Cargomatic ships a live, named AI dispatch or load-matching product (not job postings). Would show it can match Uber Freight and PortPro's shipped AI tools.
ITG Transportation Services integration finishes through 2026 without disclosed client or staff losses. Would show Cargomatic can absorb the acquisition and scale drayage.
Key numbers
  • ~$55.8M total funding raised (2025-05-22)
  • No priced round since ~$69M raise (2022-06)
  • ~2,500 loads moved daily, claimed (2025-11-04)
Named risks
  • No disclosed funding round since June 2022 in a capital intensive, thin margin sector. Severity: high
  • Sector peers Convoy and Transfix have shut down or sold brokerage units since 2023. Severity: high
  • DOL permanent injunction from September 2024 implies ongoing compliance monitoring for labor practices. Severity: medium
  • AI-forward rivals PortPro and Uber Freight have shipped agents Cargomatic has not matched. Severity: medium
  • ITG Transportation Services integration execution risk through 2025-2026. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
Uber Freightgaining onAI suite managed ~$20B freight and 24M loads/year by 2025, no equivalent shipped by Cargomatic
PortProgaining onShipped AI agents for drayage doc validation and matching in June 2025
IMC Logisticslosing toWidely described as largest U.S. drayage operator by size as of 2026
C.H. Robinson, J.B. Hunt, XPO, RXOlosing toIncumbent giants held with peers ~47% of digital freight brokerage market in 2025
Convoy and Transfix (peer cohort)contestingConvoy shut down Oct 2023, Transfix sold brokerage unit to NFI in 2024, signaling sector stress Cargomatic shares
Questions people ask
Is Cargomatic profitable in 2026?
Cargomatic is privately held and discloses no audited revenue or profit figures. A vendor estimate (Datanyze) puts revenue near $157.1M, but this is unverified and inconsistent with other headcount data, so profitability cannot be confirmed as of mid 2026.
Who owns Cargomatic?
Cargomatic is venture-backed and privately held, not public. Investors include Warburg Pincus, which led a $35M Series B in August 2018, plus Canaan Partners, Sherpa Capital, SV Angel and others across roughly 25 to 33 investors.
Could AI replace Cargomatic's brokerage business?
Rivals have already shipped AI that automates Cargomatic's core work: PortPro launched AI agents for drayage doc validation and load matching in June 2025, and Uber Freight's AI suite managed about $20B in freight and 24 million loads by 2025. Cargomatic shows no shipped AI product yet.
Who is Cargomatic's biggest competitor?
In drayage specifically, IMC Logistics is widely described as the largest operator by size, while Uber Freight, C.H. Robinson, J.B. Hunt, XPO and RXO dominate the broader digital freight brokerage market, with the top 7 firms holding about 47% share in 2025.
Has Cargomatic raised funding recently?
No disclosed funding round has occurred since roughly June 2022, when Cargomatic raised about $69M in a Series C type round. Total lifetime funding is reported around $55.8M to $69M plus depending on source, with no new priced round confirmed through mid 2026.
Did Cargomatic acquire another company?
In 2025 Cargomatic acquired ITG Transportation Services, a Lisle, Illinois NVOCC and drayage specialist founded in 1986 with about 200 employees, rebranding it as ITG Trans, powered by Cargomatic, to expand its Midwest presence.
Timeline
  • 2026-06ZoomInfo lists 201-500 employees and a planned SF office relocation affecting ~20 staff
  • 2026-04-29Built In lists 453 total employees across 4 offices
  • 2025-10Cargomatic acquires ITG Transportation Services, rebranded ITG Trans
  • 2025-01-17Named Built In Best Place to Work for third consecutive year
  • 2024-09-29DOL obtains permanent injunction against Cargomatic over driver retaliation
  • 2022-06Cargomatic raises approximately $69M in Series C type round
  • 2018-08-15Warburg Pincus leads $35M Series B raise
  • 2016Cargomatic closes $20.8M Series A
  • 2013Cargomatic founded by Brett Parker, Jonathan Kessler, Martin Hendleman
Revision history
23 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
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