# Echo Global Logistics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/echo-global-logistics

- Industry: Outsourcing
- Headquarters: Chicago, US
- Website: www.echo.com
- Total disclosed funding: $17M
- Latest round: Series D (Aug 9, 2006)
- Investors on record: 1

## About

Based in Illinois, US, Echo Global Logistics, Inc. is a freight transportation arrangement company that was founded in 2005 by Erik Lefkofsky and Brad Keywell. In October 2009, Echo Global Logistics, Inc. completed raised USD 79.8 million in an IPO, selling 5.7 million shares at USD 14 per share on the Nasdaq Global Market under the ticker symbol ECHO. As of September 2021, the company has expanded with offices across the USA, employing more than 2,500 staff members, with Doug Waggoner as its CEO. In the same month, Echo Global Logistics, Inc. agreed to be taken private with The Jordan Company acquiring the firm for an equity value of approximately USD 1.3 billion.

Echo Global Logistics, Inc. mainly operates as a business process outsourcing services provider that utilizes technology to provide transportation and supply chain management services. The company has a self-service web portal and mobile app that leverages artificial intelligence, machine learning, and advanced load matching algorithms to quote, book, and track LTL (Less than truckload freight shipping) shipments as well as manage invoices.

In 2020, the company generated USD 2.51 billion in revenue. It mainly generates revenue through the sale of brokerage and transportation management services.

Following the agreement in September 2021 to be taken private by The Jordan Company, Echo Global Logistics, Inc. intends to use the private equity firm's additional financial resources and expertise to continue the company's technology and data science platform development.

## Funding rounds

- Series D, Aug 9, 2006, $17M — New Enterprise Associates

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series D