Coldcart Announces $6.5M Seed Round to Eliminate Perishable Parcel Shipping Inefficiency and Complexity
2024年7月16日 - 8:00AM
ビジネスワイヤ(英語)
Oversubscribed Funding Round Will Accelerate Adoption of
Coldcart’s Technology Platform Across Frozen and Refrigerated
Shippers and Logistics Providers
Coldcart, the first orchestration and optimization platform for
frozen and refrigerated parcel logistics, announced today that the
company closed an oversubscribed $6.5 million seed financing. The
round was led by Collide Capital and includes previous convertible
note investments led by Material. Great North Ventures, Behind
Genius Ventures, Feld Ventures, Alumni Ventures, and Service
Provider Capital also participated.
Coldcart was founded by CEO Jason Park, who previously started
and scaled Allstate Identity Protection from zero to $100 million
ARR, and Blue Apron founder and former CEO Matt Salzberg. Early
backers include founders, C-level, and senior executives from
Marley Spoon, Home Chef, Y Combinator, and Bain & Company.
“Perishable shipping is a uniquely complicated problem,
requiring a uniquely experienced team,” said Collide Capital
Managing Partner Aaron Samuels, who is joining Coldcart’s board.
Coldcart’s team also includes early ShipBob employees and a former
pharma executive, among others.
In 2023, U.S. companies across industrial, food, pharma, and
sciences shipped approximately 3 billion perishable parcels –
spending over $76 billion in warehousing, packaging, and
transportation costs. Because of inefficiency and refunds from
spoilage, total costs consumed over 40% of sales.
Coldcart’s platform reduces perishable logistics costs by 15-50%
per shipment and refundable shipments by 40-60%.
For every individual order, Coldcart’s platform decides what
combination of routing, packaging, and shipping will best meet the
required delivery time, based on realtime factors including cost,
on-time delivery, weather, and provider availability, among
others.
These decisions are then executed across a growing network of 15
fulfillment centers and multiple delivery carriers in each
geographic region of the U.S., collectively reaching the entire
U.S. population within required perishable delivery time. Coldcart
customers can also connect their own fulfillment centers and
providers.
“Traditional approaches to perishable parcel shipping are
prohibitively cost and capital intensive,” said Jason Park, CEO and
Co-founder of Coldcart. “The infrastructure needed to solve this
problem without massive capex and opex did not exist before
Coldcart.”
With this new funding, Coldcart will grow its installed base of
perishable shippers and logistics providers. The resulting network
effects will further increase operational efficiencies created by
their platform.
About Coldcart
Coldcart is the first complete orchestration and optimization
platform for frozen and refrigerated parcel logistics. Their
technology automates and optimizes every step from order to
delivery. Additionally, Coldcart’s platform powers a network of
pre-integrated warehouse and transportation providers reaching 99%
of U.S. residents and businesses.
Coldcart was founded by CEO Jason Park (founded and scaled
Allstate Identity Protection to $100 million ARR, ex-Bain,
ex-McMaster-Carr) and Matt Salzberg (founder/former CEO of Blue
Apron).
About the founder
Jason Park is CEO and co-founder of Coldcart, a venture-backed
technology platform which orchestrates and optimizes frozen and
refrigerated parcel logistics.
Prior to Coldcart, Jason founded and scaled Allstate Identity
Protection from zero to 3 million subscribers. He joined Allstate
from Bain & Company, where he led strategy, innovation, and
transformation consulting engagements for B2B and consumer
technology companies. Earlier in his career, Jason held a variety
of operations, product, and technology roles.
Jason is a graduate of Harvard University with an MBA from the
University of Chicago.
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Coldcart Media Relations media@coldcart.co