Kessler to stay with Cargomatic

Jonathan Kessler, co-founder of the truckload capacity marketplace, often referred to as the “Uber of trucking,” will remain with Cargomatic as chief product officer despite stepping down as CEO.    Cargomatic co-founder Jonathan Kessler will remain with the company as chief product officer and a member of the board of directors despite stepping down as chief executive officer Monday, according to a letter obtained by American Shipper from Kessler to Cargomatic investors.
   “It is common in the maturation of a fast-growth technology company to have the visionary founder move out of an operations role,” fellow co-founder and President Brett Parker Parker said in an interview with industry news outlet DC Velocity. “The change does not affect our continued expansion and our prospects have never been more positive.”
   Parker refuted media reports indicating the company had requested that Kessler resign, and said the company remains committed to a growth plan that includes venture capital funding and the recent hiring of Carlile Transportation Systems and XPO Logistics supply chain executives. Cargomatic has raised more than $10 million in two different rounds of funding, including investments from Canaan Capital, Morado Venture Partners, Volvo Group Venture Capital, SVAngel, Structure Capital, and Sherpa Capital, according to its website.
   Despite this growth, Business Insider reported last month that the company had let go of more than 50 employees.
   Cargomatic’s online platform was founded in early 2014 but gained notoriety in early 2015 as a technology that could match shippers with spare short-haul and less-than-truckload capacity in Southern California as port congestion in the area brought supply chains to a grinding halt.