CargoSprint, a leader in innovative payments and workflow orchestration solutions for the cargo industry and a Lone View Capital portfolio company, announced today its acquisition of Advent Intermodal Solutions LLC (“Advent eModal”).
Advent eModal is the world’s largest port community platform. This fully integrated, strategic combination will expand the breadth of global trade that CargoSprint facilitates, as well as enhance its existing solutions for air, sea and land freight.
Founded in 1995, Advent eModal’s offerings remove friction at every point of intermodal equipment interchange. Its proprietary cloud-based platform, eModal®, connects all parts of the shipping process, making it easier for ports, carriers, logistics providers and other stakeholders to move containers, increase equipment utilization, and optimize payment workflows.
Like CargoSprint, Advent eModal’s solutions were purpose-built for the freight industry to improve visibility and optimize execution. Advent eModal’s focus on the containerized freight industry provides a powerful complement to CargoSprint’s strength in air cargo workflows.
“Our vision has always been to improve the efficiency of global commerce through technology,” said Caro Krissman, CEO of CargoSprint and the newly combined company. “Joining forces with Advent eModal is a unique opportunity to combine two talented and like-minded organizations that have developed highly complementary freight payments and workflow orchestration solutions. Together, we have the capacity to invest even more heavily in our customers’ success and meaningfully accelerate the pace of innovation in the industry.”
“We’re excited to partner with CargoSprint in this next phase of our journey,” said Parvez Mansuri, founder and former CEO of Advent eModal, who will act as Chief Strategy Officer and remain a member of the board of directors of the combined company. “This acquisition marks a new chapter—honoring our legacy with our former partners at SSA Marine while simultaneously turning our focus towards the growth opportunities created as an independent technology company. We’re eager to leverage our maritime and rail expertise to help CargoSprint, Caro and the combined leadership team to grow into new segments and deliver even more powerful solutions to the market.”
The acquisition follows Lone View Capital’s strategic investment in CargoSprint earlier this year.
“CargoSprint and Advent eModal have a shared heritage as founder-led enterprises that rose to market leading positions by combining deep industry expertise with a passion for innovation. We look forward to supporting the combined company as it continues to drive efficiency in global trade,” said Doug Ceto, Partner at Lone View Capital.
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 www.cargosprint.com.
About Advent eModal
Advent eModal Solutions is a leading provider of SaaS platforms and applications that streamline the operations of key stakeholders moving cargo through the landside supply chain. The eModal® platform is the world’s largest port community system serving intermodal operators in North, Central and South America, Australia and the United Kingdom. Active in every U.S. port, Advent eModal technology is at the core of operations in eight of the top 10 largest port communities in North America. Advent eModal developed applications provide executional tools and APIs offering cargo visibility; terminal pre-advice and appointments; payment processing and data enabled business intelligence. More than 85 global port authorities and container terminals, over 200 inland depots and 310,000 active users trust Advent eModal and its SaaS platforms like eModal.com, Chassis.com and eModal Data Services (EDS) to optimize daily operations and process over 250 million monthly cargo transactions. For more information, visit https://www.adventemodal.com.
About Lone View Capital
Lone View Capital 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 www.loneviewcap.com.
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