Florida-based tech-enabled dispatch solution provider, SmartHop, today announced it has raised $4.5m in a seed funding round which was led by Equal Ventures and had participation from Greycroft, Las Olas VC, and individual angel investors.
The tech-enabled dispatch solution provider did not detail where the funding will be used specifically although the comments from the company’s CEO and investors give the hint it could be spent on growing their sales and marketing team with the goal of expanding their customer base and presence.
Guillermo Garcia, Co-founder and CEO of SmartHop mentioned he’s excited to be working with investors and industry veterans and gave an overview of what’s next by saying: “We created SmartHop to service a majority of the freight industry that has lacked the tools to grow their businesses efficiently. We’re excited to work with our investors and industry veterans to streamline success for small carriers and owner-operators so they can take control of their business and feel the freedom of being an independent trucker again.”
Using data to make better decisions is something businesses are increasingly paying more attention to as companies continually manage to improve efficiency by analysing data and it’s proving to be popular in the logistics industry as well.
Only recently DNAnexus raised $100m to fuel their data analysis and management platform while roughly two weeks ago Brillio acquired Cognetik to improve their analytical capabilities.
SmartHop is is a tech-enabled dispatch solution provider that offers a platform that gives truckers easy load booking, end-to-end back-office support, and above-market rates per mile (RPM) to enable the business that the truckers are part of to optimise their processes.
The tech-enabled dispatch solution provider allows users and businesses to digitally book as well as analyse different variables on its platform for the whole logistics process which includes load suggestions based on location, date, hours of service, and preferred trip type all of which can be reported in detail with suggested improvements to streamline operations and increase efficiency.
SmartHop was founded in 2016 and says it aims to create the largest country-wide network of reliable carriers so their customers can ‘truck smarter, not harder’ while connecting users with guaranteed above-market rates to help their business operate profitably and remove the modern-day headaches of running a trucking business.
The tech-enabled dispatch solution provider mentions in their press release that over 90% of trucking companies in the U.S. are categorized as small businesses and operate with fewer than six trucks which makes their platform a viable solution for these trucking companies to improve efficiency and enhance their capabilities.
As the industry’s imposed rules and restrictions put truckers at a disadvantage when booking loads and leveraging buying power, SmartHop was founded with the goal of solving this problem and empowering freight companies and their drivers with the tools to optimise their loads, plan smarter routes, and grow their businesses.
Rick Zullo, Co-founder and Partner at Equal Ventures gave a brief overview on why they invested in the company and its team by saying: “Guillermo and the SmartHop team offer a competitive advantage for small carriers by utilizing the latest technologies and tactics to provide truckers everywhere with the opportunity to level up their livelihood. We believe SmartHop will continue to serve as a reliable copilot for truckers as they navigate the industry.”
“Guillermo has assembled the technology and team to reshape the trucking industry and empower thousands of truckers to operate with a new sophistication,” said Will Szczerbiak, Principal at Greycroft. “We’re excited to support SmartHop as they continue to build out their offerings to provide small carriers with opportunities for additional growth.”
The new investors are joined by existing investors who include Alex Yeager, director at Redwood Logistics, Andrew Leto, founder of GlobalTranz and Emerge TMS, and Jett McCandles, founder of the logistics company, Project44.
