# Exo Freight

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/exo-freight

- Industry: Software
- Headquarters: Las Vegas, US
- Website: www.exofreight.com
- Total disclosed funding: $17M
- Latest round: Series A (Apr 19, 2022)
- Investors on record: 6

## About

Founded in 2013 and based in Nevada, US, Power Only Transit, Inc., also known as Exo Freight is a digital platform for transportation services through open deck shippers and carriers. 
the company is led by co-founder and CEO, Kurtis Tryber. In October 2021, Power Only Transit, Inc. raised an undisclosed amount in seed funding led by a new investor 1984 Ventures, with participation from new investors I2BF, Lancaster Investment Partners, and 	Y Combinator also participated in the round. Additionally, in April 2022, Power Only Transit, Inc. raised USD 16.5 million in series A funding led by a new investor Detroit Venture Partners, and Left Lane Capital, with returning investors 1984 Ventures, I2BF, Lancaster Investment Partners, and Y Combinator.  The Series A funding valued the company at USD 60 million post-money.

Exo Freigh offers a managed marketplace for open deck shippers and carriers. Shippers can easily book trucks and manage loads with EXOTMS, connect to existing ERP/TMS systems, and monitor key KPIs. The company also offers a carrier management portal that features a load factoring solution for carriers by entering into a factoring agreement on a month-to-month basis for a flat 1.5%. And carriers can haul on the company's platform where they can find loads, automated load updates, and tailored load offers. The platform can be integrated with existing TMS and ERP platforms via EDI or API. 

EXO Freight has generated a 33% month-over-month revenue growth since June 2021. 


The company plans to use the funding 2022 proceeds to continue growing its network of both shippers and open deck carriers through roles including full-stack software engineers, sales development reps, account executives, carrier sales reps, product managers, and marketing leadership.

## Funding rounds

- Series A, Apr 19, 2022, $17M — I2BF, Detroit Venture Partners, Y Combinator, 1984 Ventures, Lancaster Investment Partners, Left Lane Capital
- Seed, Oct 5, 2021 — I2BF, Y Combinator, 1984 Ventures, Lancaster Investment Partners

## Investors

- I2BF (https://capitalatlas.ai/funds/i2bf) — Seed, Series A
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed, Series A
- 1984 Ventures (https://capitalatlas.ai/funds/1984-ventures) — Seed, Series A
- Lancaster Investment Partners (https://capitalatlas.ai/funds/lancaster-investment-partners) — Seed, Series A
- Detroit Venture Partners (https://capitalatlas.ai/funds/detroit-venture-partners) — Series A
- Left Lane Capital (https://capitalatlas.ai/funds/left-lane-capital) — Series A