Coldcart, a pioneering platform for optimizing frozen and refrigerated parcel logistics, has secured $6.5 million in seed funding, surpassing its target due to high investor interest. Leading the round is Collide Capital, with previous convertible note investments from Material and participation from Great North Ventures, Behind Genius Ventures, Feld Ventures, Alumni Ventures, and Service Provider Capital. Founded by CEO Jason Park, known for scaling Allstate Identity Protection, and Matt Salzberg, founder of Blue Apron, Coldcart boasts early backing from industry leaders and executives from Marley Spoon, Home Chef, Y Combinator, and Bain & Company.
Managing Partner Aaron Samuels of Collide Capital, joining Coldcart’s board, remarked, “Perishable shipping demands unique expertise,” highlighting the team’s diverse background including former ShipBob employees and a pharma executive.
In 2023, U.S. companies spent $76 billion on warehousing, packaging, and transporting 3 billion perishable parcels, with inefficiencies and spoilage refunds consuming over 40% of sales.
Coldcart’s platform slashes logistics costs by 15-50% and reduces refundable shipments by 40-60%. Leveraging real-time data like cost, delivery deadlines, weather, and carrier availability, the platform optimizes routing, packaging, and shipping for each order across 15 fulfillment centers nationwide, ensuring timely delivery. Customers can integrate their own facilities and carriers.
“Traditional perishable parcel methods are cost and resource-intensive,” stated CEO Jason Park. “Coldcart fills this gap without heavy capital investment.”
With this funding, Coldcart plans to expand its customer base and enhance operational efficiencies across its network.
Coldcart is the first complete orchestration and optimization platform for frozen and refrigerated parcel logistics. Their technology automates and optimizes every step from order to delivery. Additionally, Coldcart’s platform powers a network of pre-integrated warehouse and transportation providers reaching 99% of U.S. residents and businesses.
Coldcart was founded by CEO Jason Park (founded and scaled Allstate Identity Protection to $100 million ARR, ex-Bain, ex-McMaster-Carr) and Matt Salzberg
