ATLANTA, Ga. — CargoSprint has acquired Advent Intermodal Solutions LLC.
“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.”
According to a media release, 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.
“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 CSO 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.
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
