Crowley has joined forces with Insurtech MGA, Loadsure to help accelerate the development of proprietary smart technology serving the global cargo and freight insurance market by investing in the $11 million Series A funding round.
Crowley’s involvement aligns with the company’s strategic growth strategy to innovate the value chain and create visibility and efficiency for partners and customers who are demanding more accessible and agile paths to reduce risk.
“Crowley recognizes the value Loadsure presents to the freight industry and is proud to join in advancing the development of their technology to meet the growing need for cost effective risk management,” said Crowley’s Massimo Messina, vice president of mergers and acquisitions. “We look forward to working together with Loadsure as they leverage their platform to enable operators and customers to safeguard the viability of their business.”
Loadsure, an international Insuretech managing general agent, was the first to digitalize the full cargo insurance life cycle, bring one-click coverage to the U.S. freight sector, and offer an international, per-shipment insurance API, setting the bar for cargo insurance innovation. With this round of funding, the company looks to continue to grow its entrepreneurial organization to help freight industry businesses better understand risk and reduce loss by enabling insurance brokers to better serve their communities.
“We’re delighted to partner with Crowley in driving meaningful change for the freight industry,” said Loadsure CEO Johnny McCord, “especially now as it continues to strategically maneuver through supply chain disruption and pandemic uncertainty for the benefit of customers. With this infusion of capital, we’ll make the strategic hires necessary to evolve our human-centric technology and make end-to-end risk management instantly available to every business.”