# Ofload

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ofload

- Industry: Logistics & Distribution
- Headquarters: Sydney, Australia
- Website: www.ofload.com.au
- Total disclosed funding: $42M
- Latest round: Series B (Nov 3, 2022)
- Investors on record: 10

## About

Based in Australia, Ofload is a logistics technology company offering innovative road freight management solutions to enhance freight movement efficiency across the country.Founded in 2019 and headquartered in Sydney, Australia, Ofload provides a digital platform that connects shippers with carriers to optimize freight logistics. The company has completed 6 deals, with the most recent funding round occurring on December 20, 2023, where it raised USD 27 mn led by Yarra Capital Management, with participation from King River Capital and Jungle Ventures. Geoffroy Henry is the founder and CEO, who has previously established other ventures in the logistics sector.Ofload specializes in road freight management, offering a range of services to facilitate efficient freight movement throughout Australia. Their platform includes a load matching marketplace that connects shippers with available carriers, alongside a carbon measurement tool that supports businesses in meeting emissions reporting requirements. Targeting small to medium-sized enterprises, Ofload caters to a diverse clientele from various sectors, including retail and manufacturing, across major Australian markets.Ofload operates on a B2B revenue model, primarily generating income from service fees for freight transactions and potential subscription fees from carriers accessing their load marketplace. Additionally, by collaborating with small carrier businesses, Ofload implements a tiered pricing structure based on service levels and load volume, designed to promote sustainable growth and enhance operational efficiency within the freight sector.In December 2023, Ofload secured USD 27 mn in funding to support its growth initiatives. The company plans to expand its workforce, invest in advanced technology, and pursue strategic acquisitions to bolster its market position. As part of its growth strategy, Ofload is also exploring opportunities to launch new product offerings and expand into additional geographic regions, aiming to enhance its service capabilities and market reach.

## Funding rounds

- Series B, Nov 3, 2022, $23M — Bay Grove Capital, Jungle Ventures, Maersk Growth, Foundamental, King River Capital, Flash Ventures, Lineage AUS TRS Pty Ltd
- Series A, Jan 13, 2022, $15M — Bay Grove Capital, Global Founders Capital, Maersk Growth, Foundamental, King River Capital, Flash Ventures, Flexport, Inc, Lineage AUS TRS Pty Ltd
- Seed, Jul 24, 2020, $3.8M — Rocket Internet SE, Global Founders Capital, Maersk Growth, Flash Ventures

## Investors

- Rocket Internet SE (https://capitalatlas.ai/funds/rocket-internet-se) — Seed
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Seed, Series A
- Maersk Growth (https://capitalatlas.ai/funds/maersk-growth) — Seed, Series A, Series B
- Flash Ventures (https://capitalatlas.ai/funds/flash-ventures) — Seed, Series A, Series B
- Bay Grove Capital (https://capitalatlas.ai/funds/bay-grove-capital) — Series A, Series B
- Foundamental (https://capitalatlas.ai/funds/foundamental) — Series A, Series B
- King River Capital (https://capitalatlas.ai/funds/king-river-capital) — Series A, Series B
- Flexport, Inc — Series A
- Lineage AUS TRS Pty Ltd — Series A, Series B
- Jungle Ventures (https://capitalatlas.ai/funds/jungle-ventures) — Series B