Series A — The Argument

A Series A raise as one left-to-right argument — claim, proof, model, market, ask — instead of thirty-four slides. Open it, walk it, copy it.

THE CLAIM

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LINEHAUL · SERIES A · CONFIDENTIAL

Every late truck is a decision made blind.

That's the whole argument. Linehaul sells sight — live routing across owned and partner lanes — and every card to the right of this line is evidence. Read left to right. Stop when you disagree. Nobody has yet.

THE PROOF

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$3.1M ARR Up from $640K a year ago. All inbound — we have never employed a salesperson.

+22% m/m Average revenue growth over the trailing six months. The curve is not slowing.

137 lanes live From 41 in January. A lane that goes live has never gone dark.

94% on-time Across every routed shipment this quarter. Industry baseline is 71%.

Net revenue retention by cohort5 rows

Cohort	M1	M3	M6	M12
Q3 '24	100%	108%	117%	132%
Q4 '24	100%	110%	121%	138%
Q1 '25	100%	112%	124%	—
Q2 '25	100%	114%	—	—
Q3 '25	100%	116%	—	—

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Read the table down, not across: each cohort expands faster than the one before it, because the routing model gets better with every lane it sees. Shippers don't churn off a system that knows their lanes better than they do.

THE MODEL

Graphite

8% take rate per routed lane We charge on the spread we create, not a SaaS seat. When we save a shipper 20% on a lane, we keep 8 points of it — aligned by construction.

71% contribution margin At 137 lanes. Routing is software; the trucks belong to someone else. Payback on a new lane is 5 weeks, and falling as the network densifies.

THE MARKET

Graphite

The field, measured5 rows

	Lanes	ETA accuracy	Take rate
Haulbridge	890	±9 hrs	12%
Trukra	310	±6 hrs	15%
Dispatchly	1,400	±14 hrs	9%
Nordfracht	260	±5 hrs	18%
Linehaul (us)	137	±40 min	8%

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TAM, honestly: €41B of European middle-mile freight moves on lanes like ours. Take 8% of the 20% we save and the routing layer alone is a €650M revenue market — before the US, before parcel. We don't need the whole map. We need the eleven minutes everyone else wastes.

THE ASK

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$12M Series A. 60% engineering — the ETA model, and the partner-lane API that makes every new carrier a data source. 25% network — lane launchers in four new corridors, no billboards. 15% runway past the next proof point. 24 months. The milestone is $12M ARR, 500 lanes, and a second corridor that behaves like Rotterdam.

Data room — contracts, cohorts, cap table

operating-model-v9.xlsx

Model · 3 scenarios · 2.0 MB

the-memo.pdf

Read before the meeting · 469 KB

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