ATLANTA--(BUSINESS WIRE)--Nov 12, 2024--
CargoSprint (“CargoSprint” or the “Company”), a leader in innovative solutions for the cargo industry, announced today that Lone View Capital (“Lone View”), a growth-oriented private equity firm investing across the technology ecosystem, has made a strategic investment, acquiring a majority ownership stake in the Company. At the time of the investment, longtime board advisor Caro Krissman assumed the role of CargoSprint’s CEO, with Founder Joshua Wolf moving into a board advisory role.
Founded in 2012, CargoSprint enhances efficiency in cargo operations, with a focus on the “middle mile.” Its two flagship products address key industry challenges: SprintPay streamlines payment processing, while SprintPass optimizes cargo logistics from scheduling, compliance and pickups. Today, the Company serves thousands of customers globally, including freight forwarders, cargo facilities, trucking companies, airlines and industry associations.
“I’m honored to step into the role of CEO and build on the incredible work that Joshua and the CargoSprint team have accomplished over the past 12 years,” said Caro Krissman, CEO of CargoSprint. “With this investment and partnership from Lone View, our customers can expect enhanced innovation and tangible value that improves their ability to serve shippers, importers and beneficial cargo owners globally.”
“Caro has been an invaluable advisor to CargoSprint, and his deep industry knowledge and appreciation for our customers made him the natural choice for this role,” said Joshua Wolf, Founder and Board Advisor of CargoSprint. “Similarly, I am confident that Lone View’s unique combination of investment and operational experience make them the ideal partner for CargoSprint.”
“CargoSprint has a long history of helping the cargo industry streamline logistics and supply chain processes,” said Doug Ceto, Partner at Lone View. “We are excited to support management’s vision for the Company and look forward to helping accelerate their research and development efforts to support this next phase of growth.”
Morris, Manning & Martin LLP served as legal counsel to CargoSprint and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Lone View.
About CargoSprint
CargoSprint is a technology innovator transforming the global cargo industry with people-first solutions since 2012. Its flagship products, SprintPay and SprintPass, streamline payment processing and optimize cargo logistics from planning to delivery. The company operates globally with offices in the United States, Mexico and India. For more information about CargoSprint's offerings, visit https://cargosprint.com/.
About Lone View
Lone View is a growth-oriented private equity firm investing across the technology ecosystem. Its team comprises both investors and operators who leverage their deep domain expertise to help exceptional management teams build, transform and grow market-leading businesses. The firm is based in Los Angeles, CA. For more information about Lone View’s investment strategy and model, visit https://loneviewcap.com/.
View source version on businesswire.com:https://www.businesswire.com/news/home/20241112438886/en/
CONTACT: Media
Lone View
Sarah Mattina
KEYWORD: GEORGIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES PAYMENTS TECHNOLOGY TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT FINANCE
SOURCE: Lone View Capital
Copyright Business Wire 2024.
PUB: 11/12/2024 08:00 AM/DISC: 11/12/2024 08:01 AM
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