About Open Mile
Open Mile is a Transportation, Automotive & Logistics company based in Boston (United States) founded in 2010, and was acquired by Echo Global Logistics in March 2013. Freight services are connected via a mobile booking platform. Open Mile has raised $9 million across 2 funding rounds from investors including Echo Global Logistics, NXT Capital and Globespan Capital Partners. The company was acqui-hired. Its focus areas include Consumer, Logistics Tech, Freight and Trucking. Its competitors include Echo Global Logistics, Transfix and uShip; 3 of its 3 listed competitors have raised funding.
Company details
Open Mile was founded in 2010 in Boston, United States, within the transportation sector. Cloud-based technology is utilized to automate manual processes in freight management. An online brokerage platform is operated to match shippers requiring goods transport with available trucking companies. Services focus on streamlining logistics operations across the United States.
- Headquarters Boston, United States
- Stage Acquired
- SectorsTransportation, Automotive & Logistics
- Website openmile.com
- Social LinkedIn X
- Acquired by Echo Global Logistics (Mar 2013)
- Total Equity Funding$9M (USD)
in 2 rounds
- Latest Funding Round$3M (USD), Series B
Mar 2012
- InvestorsEcho Global Logistics
& 3 more
- Acquired byEcho Global Logistics
(Mar 2013)
Funding Insights of Open Mile
Open Mile has successfully raised a total of $9M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $3 million completed in March 2012. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $9M
- Total Rounds 2
- Last Round Series B — $3M
- First Round $6M
(Feb 2011)
- Investors Count 3
All 2 funding rounds of Open Mile with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2012 | $3M | Series B | – | – | |
| Feb 2011 | $6M | Series B | – | – |
4 investors in total: 4 institutional.
Investors in Open Mile
Open Mile has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Echo Global Logistics, NXT Capital and Globespan Capital Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Cash-flow based finance solutions are offered via private debt funds. | 2010 | nxtcapital.com | Chicago, United States | |
VC firm investing in companies in the US | globespancapital.com | Boston, United States | ||
CRV is recognized as a venture capital firm investing in technology startups. | crv.com | Palo Alto, United States | ||
Technology-enabled supply chain and transportation services are provided to enterprises. | 2005 | echo.com | Chicago, United States |
Investor details for Open Mile
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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Timeline of Open Mile
4 dated milestones of Open Mile across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Open Mile is founded.
- Funding First funding round of $6.0M.
- Funding Latest funding round, Series B, of $3.0M.
- Exit Acquired by Echo Global Logistics.
Competitors of Open Mile
Open Mile has 3 listed competitors in our database, 3 of them funded. They include Echo Global Logistics, Transfix and uShip.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| echo.com | 2005 | Chicago, United States | $17.3M | 2,405 | Technology-enabled supply chain and transportation services are provided to enterprises. | |
| transfix.io | 2012 | New York, United States | $124.56M | 282 | Offers a marketplace providing on-demand load matching and freight booking services | |
| uship.com | 2003 | Austin, United States | $51.81M | 115 | Global online marketplace for freight and vehicle shipping is facilitated. |
Detailed competitors of Open Mile
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Web traffic of Open Mile
Websites that share an audience with Open Mile (openmile.com).
Websites whose visitors overlap most with Open Mile. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| freightquote.com | 100% | 131.8K | #187,507 | View details | |
| uship.com | 96% | 541.1K | #60,988 | View details | |
| freightcenter.com | 69% | 96.5K | #299,342 | View details |
Top companies in Logistics Technology & Platforms
3 companies that operate in the same segment as Open Mile (Logistics Technology & Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Food and grocery deliveries are facilitated through an app-based platform. | 2013 | San Francisco, California, United States | USD 2.5 B | USD 10.72 B | 80,579 | |
AI-powered cloud-based vehicle tracking solutions are offered for fleet owners. | 2015 | San Francisco, California, United States | USD 915 M | USD 1.62 B | 5,792 | |
Cloud-based logistics software suite is provided for supply chain management. | 1994 | Schaumburg, Illinois, United States | USD 35 M | USD 1.42 B | 3,600 |
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Related news about Open Mile
Complete news archive for Open Mile
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Frequently Asked Questions about Open Mile
Open Mile was founded in 2010 and raised its 1st funding round 1 year after it was founded.
Open Mile is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Open Mile is a funded company, having raised a total of $9M across 2 funding rounds to date. The company's 1st funding round was a Series B of $6M, raised on Feb 2011.
Open Mile was founded in 2010 in Boston, United States, within the transportation sector. Cloud-based technology is utilized to automate manual processes in freight management. An online brokerage platform is operated to match shippers requiring goods transport with available trucking companies. Services focus on streamlining logistics operations across the United States.
Open Mile's top competitors include uShip, Transfix and Echo Global Logistics.
Open Mile has 4 investors. Key investors include Echo Global Logistics, NXT Capital, Globespan Capital Partners, and CRV.
Yes. Open Mile was acquired by Echo Global Logistics in March 2013.