Dallas-based startup empowers businesses to optimize international trade
DALLAS, TEXAS. January 29, 2020. Mercado — a technology startup transforming the global supply chain by digitizing the first 120 days — has closed a $3.2 million seed round led by LiveOak Venture Partners with participation from Schematic Ventures, Story Ventures, and Amplifier. The funds will be used to fund new product development and expand marketing outreach.
“We are incredibly excited to have LiveOak as our lead investor,” said Rob Garrison, Mercado CEO and founder. “Their reputation and ‘entrepreneur-first’ approach were exactly the qualities we were looking for in a partner. Together with our other investment syndicate partners Schematic, Story, and Amplifier, we have a powerhouse team who will help us to transform the supply chain industry.”
Mike Marcantonio, Principal at LiveOak Venture Partners, said Mercado fit squarely into the LiveOak’s investment strategy. “Backing exceptional entrepreneurs with deep domain expertise is core to our strategy, and we invested in Mercado because we believe in Rob’s vision for the future of supply chain management,” Marcantonio said. “The implementation of Mercado can have a transformative impact on customer’s supply chains, particularly the potential downstream economic benefits.”
Mercado was founded in 2018 with the vision of transforming the way importers manage their global supply chains by focusing on the first 120 days – known as the “first mile.” Any delays, discrepancies, damages, and defects during this period have negative impacts on profits and sales. By the time they are found however, it’s often too late.
Mercado puts businesses back in control by replacing spreadsheets and emails with a fully digitized platform to manage orders from origin to destination. Dramatically reducing issues in the first mile and enhancing supply chain transparency, collaboration, and predictability. The results are already being seen throughout supply chains, with improved inventory optimization, reduced lead-times, increased sales, and decreased costs.
Marcantonio has joined the Mercado Board of Directors alongside industry veteran and founder of GT Nexus John Urban, bringing an even larger range of experience to Mercado. “John really is an ‘urban legend’ in the supply chain industry,” Garrison said. “The company he founded, GT Nexus, pioneered the space for global trade management and it became an amazing company with an outstanding reputation. John’s integrity, industry experience, and leadership were integral to that success. We are excited and proud to have him on the team. I am confident that John’s vision and expertise will serve us well as we look to transform the global supply chain industry.”
Marcantonio is excited that LiveOak, Schematic, Story, and Amplifier are able to be a part of this journey and look forward to the impact Mercado will have throughout the international supply chain. “I’m most excited to support Rob and the Mercado team on this journey to improve the supply chain process because they address a real pain point felt by nearly every importer,” Marcantonio said. “Mercado enables importers to break free from the inefficiencies and ineffectiveness of the manual processes used to manage the supply chain today — such as email and Excel — and step into the 21st century with a modern, intuitive solution purpose-built for their supply chain management needs.”
Mercado is a technology platform focused on transforming the global supply chain by digitizing the first mile. Headquartered in Dallas, Texas, Mercado activates the order, re-connecting the entire supply chain to give businesses collaboration, transparency, and predictability across their orders.
About LiveOak Venture Partners
LiveOak Venture Partners is a venture capital fund based in Austin, Texas, founded by Ben Scott, Krishna Srinivasan and Venu Shamapant. With 20 years of successful venture investing in Texas, the founders of LiveOak have helped create nearly $2 billion of enterprise value. While almost all of LiveOak’s investments begin in the early stages, LiveOak is a full life cycle investor focused on helping create category leading technology and technology-enabled service companies based in Texas. LiveOak Venture Partners has been the lead investor in exciting high-growth Texas-based companies such as CS Disco, Digital Pharmacist, OJO Labs, Opcity, and TrustRadius.
About Schematic Ventures
Schematic Ventures is an early-stage venture capital fund located in San Francisco, California. The fund is focused on investments in technology companies within the supply chain, retail, manufacturing, and digital industrial sectors. Schematic’s portfolio includes companies such as Airspace Technologies, CognitOps, Platform Science, RPA Labs, Plus One Robotics, and Leaf Logistics.
About Story Ventures
Story Ventures is an early-stage venture capital fund based in New York City. Story Ventures invests in entrepreneurs with big visions that leverage technology and the proliferation of data to impact the way people interact with the world. Three areas of focus include systems that capture and understand real world data; systems that process, organize, and store data; and systems that utilize and apply intelligence to data. Story Venture’s portfolio includes companies such as Sayspring, Freightwaves, Petal, and Motorq.
Amplifier is a venture capital fund based in Berlin, Germany. Amplifier approaches the supply chain as an interconnected ecosystem, investing from deep ocean to last mile into disruptive maritime, logistics and mobility tech. Integrated with industry leaders and partners, identifying innovation trends and validating new technology. Amplifier’s portfolio includes investments such as Katapult Ocean, Nautilus Labs, and Humanising Autonomy.