About Open Mile
Open Mile is a company based in Boston (United States) founded in 2010 was acquired by Echo Global Logistics in March 2013.. Open Mile has raised $9 million across 2 funding rounds from investors including Echo Global Logistics, NXT Capital and Globespan Capital Partners. Open Mile operates in a competitive market with competitors including Echo Global Logistics, Transfix, uShip, Uber Freight and Loadsmart, among others.
- Headquarter Boston, United States
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$9 M (USD)
in 2 rounds
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Latest Funding Round
$3 M (USD), Series B
Mar 01, 2012
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Investors
Echo Global Logistics
& 3 more
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Employee Count
Employee Count
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Acquired by
Echo Global Logistics
(Mar 19, 2013)
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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 Total Funding
- Total Rounds 2
- Last Round Series B — $3.0M
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First Round
First Round
(01 Feb 2011)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2012 | Amount | Series B - Open Mile | Valuation |
investors |
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| Feb, 2011 | Amount | Series B - Open Mile | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Cash-flow based finance solutions are offered via private debt funds.
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Founded Year | Domain | Location | |
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VC firm investing in companies in the US
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Founded Year | Domain | Location | |
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CRV is recognized as a venture capital firm investing in technology startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Open Mile
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Open Mile
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Open Mile Comparisons
Competitors of Open Mile
Open Mile operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Echo Global Logistics, Transfix, uShip, Uber Freight and Loadsmart, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Technology-enabled supply chain and transportation services are provided to enterprises.
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| domain | founded_year | HQ Location |
Offers a marketplace providing on-demand load matching and freight booking services
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| domain | founded_year | HQ Location |
Global online marketplace for freight and vehicle shipping is facilitated.
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| domain | founded_year | HQ Location |
Trucking carriers are matched with shippers via an online marketplace.
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| domain | founded_year | HQ Location |
Trucking services are booked via an online marketplace platform.
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| domain | founded_year | HQ Location |
Web-based payment solutions are offered for trucking operations.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Open Mile
Frequently Asked Questions about Open Mile
When was Open Mile founded?
Open Mile was founded in 2010 and raised its 1st funding round 1 year after it was founded.
Where is Open Mile located?
Open Mile is headquartered in Boston, United States. It is registered at Boston, Massachusetts, United States.
Is Open Mile a funded company?
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 01, 2011.
What does Open Mile do?
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.
Who are the top competitors of Open Mile?
Open Mile's top competitors include uShip, Transfix and Uber Freight.
Who are Open Mile's investors?
Open Mile has 4 investors. Key investors include Echo Global Logistics, NXT Capital, Globespan Capital Partners, and CRV.