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Liftit secured $22.5 million in Series B Funding round backed by Cambridge Capital

Liftit secured $22.5 million in Series B Funding round backed by Cambridge Capital

Liftit

Liftit, a Colombia based technology platform for automating truck deliveries, has now secured $22.5 million in Series B funding round.

Liftit was founded by Brian York in 2017. It is a technology platform for automating and executing last mile truck deliveries across Latin America.

Its integrated transportation management platform is used by shippers in Latin America to optimize its track delivery operations. The company has more than 300 employees and operates in Brazil, Chile, Colombia, Ecuador, and Chile.

Executive Opinion

Brian York, CEO of Liftit, said, "We are very happy to announce this new investment. Cambridge Capital's deep experience in logistics globally makes them the perfect partner for us. Working with them will allow us to continue developing our platform, deepen our leadership team and continue our high-growth trajectory into 2021 and beyond".

Ben Gordon, Cambridge Capital's Managing Partner, said, "We are extremely excited to partner with Liftit as the lead investor in the Series B financing. Our background as global business builders in supply chain, and our unique viewpoint as a group of operators, strategic advisors and investors focused exclusively in logistics, will allow us to help Liftit continue to build its moat in what we believe is a fast-growing multi-billion dollar market for tech-enabled last-mile trucking logistics in Latin America". 

Liftit's Latest Funding

Cambridge Capital, backed the funding round with participation from NXTP Ventures, Jaguar Ventures, IFC, Monashees, and others.

Post funding, Cambridge Capital, Ben Gordon and Matt Smalley, as well as Ed Fritzinger, the former Vice President of Global Logistics at Amazon, will going to join as the Liftit Board of Directors team.

The company, as of now, has plans to use the new funds to enhance capabilities to automate the last mile transportation and delivery of goods across Latin America and continue to develop its technology to digitize last-mile logistics in the region.
PC: Pablo, Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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