Sydney logistics software startup Ofload has acquired Melbourne freight specialist CIA Logistics in its first deal to expand nationally.
Founded in 2020 with a focus on cutting inefficiencies in the trucking industry and reducing its environmental impact, this is Ofload’s first acquisition, taking its headcount to more than 120 employees in Sydney, Melbourne and Brisbane,.
The terms of the deal were no disclosed. CIA Logistics founder Tony Couttie becomes GM at Ofload.
Ofload founder and CEO Geoffroy Henry said the CIA Logistics brand will be retained as its operations, sales and finance teams continue to report to Couttie.
“Tony has built an incredible business, and the natural synergy between our teams was clear as they worked together to digitise analogue road shipments for some of Australia’s leading brand,” he said.
“This exciting milestone for Ofload is just the start of our next phase of growth, which is focused on expanding our footprint and building our digital ecosystem and network of shippers and carriers.”
Henry said Ofload is becoming the fastest-growing startup in local logistics industry, having posted 500% revenue growth, year-on-year, less than 12 months after its $20 million Series A raise in December last year and the merger will speed up that growth.
“Uniting both businesses will accelerate Ofload’s objectives to increase shipment visibility, minimalise manual and analogue processes, and ultimately remove inefficiencies across Australia’s freight industry,” he said
CIA Logistics, founded in 1987, operates freight solutions via air, road, rail and sea across Australia and is a leading independent provider of freight services to some of the country’s foremost companies and brands.
Its expertise in freight management, brokerage, and logistics, alongside its dispatch management system tech will be merged into Ofload’s domestic end-to-end digital road freight solution.
The consolidation will support Ofload’s plans to reduce the number of empty trucks on Australian roads and eliminate all waste in road freight, while continuing to meet the rapidly evolving needs of shippers and carriers alike.
Tony Couttie said they are delighted to become part of a mission-driven company that they believe will be a game-changer for logistics.
“Ofload’s technology will bring a wealth of new opportunities to our customers and carrier partners and will support us in growing our reach across the Australian freight landscape. We see the integration of CIA Logistics into Ofload as a perfect fit,” he said