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September 15, 2015 10:00 AM, EDT

Cargo Chief Raises $10 Million in Investor Funding

Third-party logistics company Cargo Chief said it raised an additional $10 million from investors to fuel growth, product development and expansion into additional markets.

Walden Venture Capital led the recent round of funding with additional investment by Hunt Technology Ventures and the GrowthX Fund, Cargo Chief said.

The Mountain View, California, company said it uses patented, proprietary aggregation technology to locate hard-to-source load capacity for shippers.

“This round of funding will accelerate the continued development of our intelligent platform and bolster our sales and marketing, while also supporting our new offices in the Midwest,” Cargo Chief CEO Russell Jones said. “We look forward to raising a final expansion round in first half of 2016.”