DARIEN, Conn.--(BUSINESS WIRE)--Genesee & Wyoming Inc. (G&W) (NYSE:GWR) today announced it has made an investment in and formed a strategic alliance with Cargomatic, Inc. (Cargomatic), a technology platform connecting shippers and truck carriers with a focus on short-haul markets. Terms of the investment were not disclosed.
Founded in 2013 and headquartered in Long Beach, Calif., Cargomatic focuses on the fragmented short-haul and drayage trucking markets connecting shippers and carriers real-time via its web platform and apps. The Cargomatic platform facilitates increased truck capacity, real-time tracking and an efficient transportation solution for shippers while providing owner-operator and smaller truck carriers visibility to traffic volumes and operational flexibility. Currently operating in Los Angeles, San Francisco, Chicago, Seattle, Dallas, Houston and New York, Cargomatic is expanding across the U.S. with plans to expand internationally.
Michael Miller, Chief Commercial Officer of G&W, commented: “The Cargomatic team has built a world-class platform combining the best of technology and streamlined processes to connect shippers and carriers to drive supply chain efficiency. In addition to our investment in Cargomatic, we are pleased to add the Cargomatic platform as an extension of G&W’s rail service at terminal and transload locations across G&W’s U.S. rail network and to work with the Cargomatic team as they expand internationally to Europe and Australia. By extending our first and last mile service offering, Cargomatic not only improves the efficiency of first and last mile logistics between rail and road, but it also simplifies the multimodal touchpoints for our customers.”
Richard Gerstein, Chief Executive Officer of Cargomatic, commented: “This relationship with G&W will create unprecedented transparency and facilitate ease-of-use for first and last mile logistics networks associated with rail; setting the stage for what we view as the semi-autonomous future of transportation: scalable long-haul rail, one train hauling hundreds of containers and railcars - with local, human powered pickup and delivery. The Cargomatic platform is unique in that it combines deep mobile and enterprise technology with robust customer service necessary for managing the intricacies of drayage and short-haul trucking for intermodal and breakbulk commodities. We are excited to work with G&W and together we will work to simplify and automate first/last mile delivery of bulk traffic flows across the U.S. In addition, the G&W/Cargomatic relationship allows Cargomatic to rapidly increase its presence outside of the U.S., creating additional global marketplaces while simultaneously enhancing G&W’s international service offerings.”
About G&W
G&W owns or leases 122 freight railroads organized in nine locally managed operating regions with 8,000 employees serving 3,000 customers.
- G&W’s seven North American regions serve 41 U.S. states and four Canadian provinces and include 115 short line and regional freight railroads with more than 13,000 track-miles.
- G&W’s Australia Region serves New South Wales, the Northern Territory and South Australia and operates the 1,400-mile Tarcoola-to-Darwin rail line. The Australia Region is 51.1% owned by G&W and 48.9% owned by a consortium of funds and clients managed by Macquarie Infrastructure and Real Assets.
- G&W’s UK/Europe Region includes the U.K.’s largest rail maritime intermodal operator and second-largest freight rail provider, as well as regional rail services in Continental Europe.
G&W subsidiaries and joint ventures also provide rail service at more than 40 major ports, rail-ferry service between the U.S. Southeast and Mexico, transload services, contract coal loading, and industrial railcar switching and repair.
For more information, visit gwrr.com.
About Cargomatic
Headquartered in Long Beach, Calif., Cargomatic is a technology-based transportation company and marketplace focused on first and last mile transportation.
- 50 full time employees
- Serves shippers in LTL, regional truckload and drayage in and out of ports and rail facilities
- Active in Los Angeles, San Francisco, Seattle, New York, Chicago, Dallas and Houston
- 300 active customers
- Nearly 1,000 active drivers
- Cargomatic investors include: Canaan Partners, Volvo Group Venture Capital, Xplorer Capital, Morado Venture Partners, Acequia Capital, SV Angel, Muse Family Enterprises, Structure Capital and Sherpa Capital
For more information, visit www.cargomatic.com
