The freight-matching solutions provider will use the new funding to accelerate product development and implementation.
Trucker Tools LLC has closed its Series A funding round, raising $4.4 million from existing investors.
Prasad Gollapalli, founder and CEO of the Reston, Va.-based shipment visibility, capacity management and predictive freight-matching solutions provider, said the company will use the new funding to accelerate product development, bolster implementation resources and expand its sales and marketing efforts.
As part of these efforts, the company has created a formal customer advisory board that meets regularly to review and provide input on its product road map.
Trucker Tools also plans to increase and accelerate integrations with leading transportation management system and enterprise resource planning system providers, Gollapalli said.
HighJump, a supply chain management software provider headquartered in Minneapolis, integrated Trucker Tools’ predictive freight-matching platform into its flagship TMS in June. Other supply chain software providers that have previously integrated the Trucker Tools Smart Capacity application into their TMS offering include McLeod Software’s PowerBroker, MercuryGate International, Tailwind Transportation Software for brokers and Strategy Live’s fleet management software.
Gollapalli noted that Trucker Tools recently surpassed 100,000 unique carriers, primarily operators with fleets of 20 trucks or less, on its load-matching platform and 500,000 downloads of its mobile application for truck drivers, which integrates with smartphone GPS tracking software to capture location data. That data is then transmitted via Trucker Tools’ confidential, secure network and displayed in the Smart Capacity load tracking and carrier management platform, helping brokers and carriers match loads with available trucks.
“Customer adoption of the Smart Capacity platform and tools has been excellent,” he said. “We have a strong pipeline of new business. Brokers and 3PLs are seeing the value and asking us to ramp-up product development.
“We are helping carriers squeeze the best loads at the right time onto every truck they have, limiting downtime and using every possible hour of available capacity,” he added. “That reduces wasted capacity and helps optimize the carrier’s network and the driver’s available hours — and improves the broker’s productivity. All [of which] are especially important objectives in today’s tight capacity market and with the ELD mandate.”
Trucker Tools picks up $4.4 million investment
