OneMarket

OneMarket is the first cloud-based exchange for freight forwarders and shippers to trade ocean container space and maximize their revenues.

Most LCL ("Less-than-Container Load") containers are shipped 20% to 40% empty, and while the industry targets a utilization rate of 83%, the average rate is 67%. Onemarket’s platform connects shippers with buyers who bid on this excess space, in a market with $5.2 billion in potential trading fees.

The forwarding business is currently run via fax, phone and email, yet is recovers approximately $15 billion in lost revenues each year. Most buyers are required to undergo credit checks, yet it’s still common for collections to take up to 6 months. Meanwhile, there is no centralized source for pricing, so quotes can take days to receive. In addition, 20% of shipments have documentation problems due to the manual paper processing and fax technology.

OneMarket believes that only an online exchange can resolve these kinds of market inefficiencies in the shipping industry. The online platform would instantly reach thousands of buyers, while its clearinghouse would guarantee on-time payments in full. Quotes would be provided swiftly on a trading platform that OneMarket is also developing.

Ultimately, OneMarket wants to transform the industry’s analog systems to digital and eliminate redundant back-office labor.

Specialized US freight forwarders, known as NVOCCs, control the supply of containers and drive rates & practices down to the rest of the forwarder market. The top 50 NVOCCs control 83% of the market and OneMarket is targeting the rest. If successful, OneMarket sees applications for the overall transportation market, including FCL ("Full-Container Loads") Shipping, Trucking and Rail.

Team Background

Lawrence Heltzer - Co-Founder & CFO

Prior to founding OneMarket, Lawrence worked with a variety of senior management teams at portfolio companies owned by Enterprise Partners Venture Capital, Westar Capital, and Norwest Venture Partners, among others.. This included over a dozen startups and turn-arounds in various industries, mostly technology: cloud (SaaS) services, transaction analysis and fraud prevention technology, online securities brokerage, healthcare IT, healthcare, financial services, modular housing, old and new media.

Notably, Lawrence was a Senior Financial Consultant for Deluxe Entertainment Services Group, a diversified post-production entertainment company providing services to the major film studios. He was also the VP of Finance for AFS Industries, a manufacturer and installer of modular classrooms, instant schools and DOH buildings. Prior to that, he was a Senior Financial Analyst for Scripps Clinic, the 3rd largest medical clinic in the United States, and a Senior Financial Analyst for All Post, which was the world's largest entertainment post-production company.

Lawrence began his career in a $150 million telecommunications joint venture owned by News Corp, MCI and the founders of Lorimar Telepictures. When that company was folded into MCI and relocated to Texas, Lawrence jumped into venture capital.

Lawrence holds a BS in Economics and an MBA (International Strategy & Finance) from Loyola Marymount University.

Martin Duvander - Co-Founder & CEO

Prior to founding OneMarket, Martin was Founder & CEO of Mojo Software, a cloud services company that allowed retailers, restaurants and large European enterprises to automate the time management of their hourly workforces.

Previously, he was a Partner at Media Sportif, which sold sports goods to European football clubs. Before that, he worked in Business Development at Meda Group Scandinavia before it was bought by Ztango.com (later acquired by Verizon), an SMS based service that enabled customers to download ringtones and images.

Martin began his career as a currency trader for Delta Finance in Denmark and then transitioned to Merrill Lynch's London operations where he worked in back office operations: settlements, payments and client disputes. He later joined D.I.C. London as a currency trader and then to Habibson's Bank where he became head of their Treasury Department and managed trading and clearinghouse operations.

Co-Investors