Kargo Technologies Corp. Asset Profile

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Year established

2019

Location

San Francisco CA US

Primary Industry

Software

About

Based in California, US, and founded in 2019 by Sam Lurye, Kargo, previously known as Cognisense, operates as a developer of smart loading docks built to handle supply chain processes. The company features a centralized platform to view shipping and supplier data, incoming and outgoing shipment visibility with real-time ASN verification and monitoring and measuring the real-time performance of suppliers, thus enabling various industries such as logistics, automotive, and distribution to save time, gain insights and make better business and operational decisions. In February 2021, the company received a seed funding investment led by Founders Fund. The company ships the physical sensor towers to the loading dock. The computer vision sensor is able to automatically identify and verify all incoming and outgoing freight in real-time. The accompanying software platform takes in all of that data, which can then be used by customers to take a macro or micro view of its supply chain. The company makes money by selling sensors and then offers a software subscription that gives customers access to the data. The platform allowed its customers to reduce loading times by more than 40%, the predictive feature built by Kargo enable customers to be informed of forecasting whether shipments will be late or missed. Lurye’s aim in 2021 is to use the new funds to double its 7-person workforce over the next several months and launch its first commercial launch of 50 loading docks with plans to triple that number before the end of the year. In 2022, Lurye wants to add more than 1,000 loading docks to the platform.

Current Investors

Founders Fund, Great Oaks Venture Capital, Sozo Ventures

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Primary Industry

Software

Sub Industries

Freight Transportation Services, Logistics Software

Website

https://mykargo.com/

Verticals

Cloud Computing, IoT (Internet of Things)

Company Stage

Series A

Total Amount Raised

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