The way shippers procure and manage freight carriers is outdated, inefficient and costly. A combination of outsourcing, antiquated in-house models and Transport Management Systems (TMS) not designed for super-large enterprises, have resulted in a transport procurement and management industry distinctly lacking in efficiency and failing to deliver what are now simply-integrated benefits of modern-day technology.

Loadar was designed to solve these problems, specifically for the super-large enterprise category. It offers advanced procurement and streamlined management, as well as the ability to automate the process and provide real-time insight into the whereabouts of freight at any given time. Further, it is simply integrated into most major enterprise systems. Loadar is already live and operating for clientele, including bluechip sustainable packaging providers.

Supply chain resilience has become a major challenge in recent times. World events like the COVID-19 pandemic, the Suez Canal crisis, the war in Ukraine, and even the incoming sanctions and tariffs expected to be put in place once Donald Trump is back in the Presidential office, all have significant knock-on effects on global supply chains. The ability of shippers and carriers alike to react quickly and effectively during these instances can be the difference between success and disaster. Recent studies suggest 89% of companies faced a supplier risk event between 2017-2022, Loadar helps to minimise the chances of disaster in these instances.

Founder and CEO Ciaran Doherty has significant experience in logistics and operations, having spent more than five years with Northern Irish public transport provider Translink, before serving as Vice President of Foodservice UK for packaging giant Huhtamaki.

He says: “For the super-large enterprises moving product all over the globe, transport procurement and management is a major expense both financially and in terms of time. Teams are often individually managing hundreds of carrier relationships, it truly has become an impossible task to do well. Third-party logistic (3PL) companies are inefficient and fail at promoting crucial strategic partnerships between shippers and their carriers. It’s a challenge in need of a solution, and today’s funding announcement is the next major step for us to be able to provide that solution.”

Doherty estimates shipping logistics typically cost between 7-8% of a shipper company's revenue, which is a major expense for super-sized enterprises making billions of dollars a year. Loadar projects users can reduce transport costs by 15%, by streamlining processes. Furthermore, by digitising the entire workflow, real-time oversight of where freight is in the supply chain is made possible, making transport management significantly simpler.

Will Prendergast, Partner at Frontline Ventures, says: “Managing transport costs and reducing carbon footprint are two of the top priorities for large manufacturers. Loadar is unique in that it tackles both of these topics together, achieving significant cost savings for clients by reducing empty leg journeys for transport companies. It's a win, win-win scenario for manufacturers, transport carriers and the climate.” 

Jamie Andrews, Partner at Techstart Ventures, said: “Loadar is a wonderful example of innovation born out of Northern Ireland. Ciaran and his team have every necessary attribute to successfully scale what is a clearly needed solution to a problematic link in the supply chain.”

The money raised will go towards fueling Loadar’s expansion to the US, where the market size represents a huge opportunity for growth and uptake of the Loadar solution. It’ll also fund growing the team which is planned to more than double in size over the next 12 months.

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