AI-powered freight dispatch startup SmartHop raises $4.5 Million to fund expansion

AI-powered freight dispatch startup SmartHop raises $4.5 Million to fund expansion

Published: 06-08-2020 19:32:17 | By: Bob Koigi | hits: 2098 | Tags:

SmartHo​p,​ a Florida tech-enabled dispatch solution empowering small trucking companies to grow their businesses, has announced that it has closed a $4.5 Million Seed round led by Equal Ventures, a seed stage venture fund based in New York.

Additional investors in the round include Greycroft, Las Olas VC. The company has also recruited a group of industry veterans and strategic angels to help the company scale.

SmartHop’s platform, designed to be a trucker’s trusted “copilot”, offers easy load booking, end-to-end back-office support, and above-market rates per mile (RPM) so customers can truck smarter not harder.

The company is creating the largest country-wide network of reliable carriers, connecting truckers with guaranteed above-market rates to keep their business running profitably. SmartHop’s all-in-one solution provides strategic analyses of carriers for seamless digital booking, load suggestions based on location, date, hours of service and preferred trip type, and detailed performance reports supported with strategies for improvement.

Guillermo Garcia, Co-founder and CEO, SmartHop: “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.”

Over 90 per cent of trucking companies in the U.S. are categorized as small businesses and operate with fewer than six trucks. SmartHop’s simple to use platform is designed for these small companies to improve efficiency and have enhanced capabilities compared to leading carriers, without needing to be a sophisticated enterprise.

 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 drivers with the tools to optimize their loads, plan smarter routes, and grow their businesses. SmartHop’s easy-to-use platform removes the modern-day headaches of running a small trucking business.

Rick Zullo, Co-founder and Partner, Equal Ventures: “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.”

SmartHop was founded by co-founder and CEO, Guillermo Garcia, who started his career in supply chain for Nestle in Venezuela before founding ALCARIN, one of the largest integrated logistics solutions in Venezuela. Because of its innovative and large addressable market, the company has attracted top-tier investors and angels to help further the company’s mission. Among these investors include Alex Yeager, director at Redwood Logistics, Andrew Leto, founder of GlobalTranz and Emerge TMS, and Jett McCandles, founder of logistics company, Project44.

Will Szczerbiak, Principal, Greycroft:. “Guillermo has assembled the technology and team to reshape the trucking industry and empower thousands of truckers to operate with a new sophistication. We’re excited to support SmartHop as they continue to build out their offerings to provide small carriers with opportunities for additional growth.”