Indianapolis Entrepreneur Marcus Holloway Raises $18 Million for Logistics Startup

Marcus Holloway's Indianapolis-based logistics technology startup, CrossDock, closed an $18 million Series B funding round this week, capital the company plans to use to expand software that helps trucking companies schedule warehouse dock appointments more efficiently across Indiana's freight corridors.

Holloway founded CrossDock six years ago after spending a decade working in operations for a regional trucking company, where he grew frustrated with the manual phone-based scheduling system used to book dock appointments at distribution centers. The company's software now handles scheduling for dozens of warehouses across the Indianapolis metro area, long known as the "Crossroads of America" for its central position along major interstate corridors.

"Truckers were burning entire days sitting in line because nobody had built a real scheduling system for these warehouses," Holloway said. "We built CrossDock because I lived that problem before I ever thought about it as a business."

The Series B round was led by a Chicago-based growth equity firm, with participation from two existing investors who backed the company's earlier seed round. Holloway said the funding will support expanding CrossDock's platform to distribution hubs in Ohio and Kentucky, markets the company has fielded inbound requests from for several years.

CrossDock currently employs 50 people at its Indianapolis headquarters, and Holloway said the company plans to add roughly 20 engineering and sales positions over the next year as it expands beyond Indiana. The company has not yet turned a full-year profit but Holloway said it reached positive cash flow in individual months over the past year.