Carpool logistics secures $12m Series A to scale its vehicle shipping platform

Carpool Logistics, a vehicle logistics platform, has raised $12 million in Series A growth capital led by Wavecrest Growth Partners, with participation from CarMax, Impel founders Devin Daly and Michael Quigley, as well as automotive industry veteran David Metter. The new funding will be strategically deployed to accelerate Carpool's growth across multiple fronts: enhancing the technology platform, expanding product development, optimizing logistics capabilities, and scaling sales and marketing efforts to drive customer acquisition and market expansion.

Mike Malakhov, Founder and CEO, Carpool Logistics: "We do more than just ship cars; everything we do is focused on improving the customer experience and making shipping a competitive advantage for our clients. Our platform bundles multiple vehicles into one shipment to reduce turnaround times and costs, while our white-glove approach – with real-time tracking and robust security measures – mitigates risks like damage claims and fraud. The funding from Wavecrest and CarMax allows us to scale more effectively, strengthen our team, and enhance our technology. By serving as a trusted partner to our customers and seamlessly integrating the Carpool platform with their workflows, we help our clients stay ahead in an increasingly competitive market."

Founded in 2021, Carpool Logistics has become one of the fastest growing vehicle shipping platforms. By leveraging advanced technology, the company optimizes vehicle shipping, resulting in cost savings and reduced environmental impact. Since its inception, Carpool has expanded its customer base to over 1,800 clients, including auto auctions, dealerships, manufacturers, and fleets, and has shipped more than 150,000 vehicles. Previously, the company raised a $3.5 million seed round from Atlanta Ventures and Overline Ventures in 2022.

Deepak Sindwani, Managing Partner, Wavecrest Growth Partners: "The vehicle logistics industry is rapidly evolving, and Carpool is at the forefront of this transformation. Our firm and extended team have a long history investing in the automotive industry, and Carpool's purpose-built technology platform and marketplace and uniquely experienced leadership team are clearly differentiated. We believe Carpool is well-positioned to become the category leader, and we are excited to partner with them to accelerate their next phase of growth."

www.carpoollogistics.com

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