Rose Rocket, a Toronto, Canada-bsed SOC II compliant, cloud-native provider of transportation management software (TMS) for trucking companies and 3PLs, closed $38 million in Series B funding, bringing its total raised to date to $69 million.
Scale Venture Partners led the equity round, with continued participation from current investors Addition Capital, Shine Capital, Scale-Up Ventures, Funders Club, and Y-Combinator.
The funds will be used to accelerate the company’s expansion into larger fleets in the enterprise, as well as to further accelerate its investments in product development and network collaboration efforts to serve its rapidly growing customer base.
“Rose Rocket is a special place and product. We have built a community of freight professionals and customers that are dedicated to elevating the entire industry to operate at a higher level. Our network TMS product is the first of its kind, and our ability to connect all corners of our customers’ supply chain is creating a tidal wave of adoption and change in our industry. We’re excited to enter the next phase of our growth and take our winning playbook into the enterprise,” said Justin Sky, CEO and Co-founder of Rose Rocket.
Rose Rocket has been helping companies navigate with modern technology that bridges the gap in visibility and collaboration. For instance, its network-centric TMS optimizes existing resources for carriers and brokers, reducing the need to rely on scaling assets for growth.
It also unifies stakeholders on one platform, ensuring streamlined visibility and transparency for proactive exception management throughout the supply chain.
Company: Rose Rocket, Inc.
Raised: $38.0M
Round: Series B
Funding Month: June 2023
Lead Investors: Scale Venture Partners
Additional Investors: Addition Capital, Shine Capital, Scale-Up Ventures, Funders Club and Y-Combinator
Company Website: https://www.roserocket.com/
Software Category: Freight Management Software
About the Company: Rose Rocket is a provider of enterprise-grade transportation management software (TMS) for trucking companies and 3PLs. Its network-driven TMS allows trucking companies to leverage their network of drivers, customers, and partners to unlock visibility and capacity. Additional product offerings include an industry-leading driver mobile app, customer and partner portal technology, and an open architecture that allows for native integrations, EDIs, APIs, and more. With Rose Rocket, trucking companies, and 3PLs add efficiency and automation at every step of the transport process, allowing for growth through network optimization. Rose Rocket operates in the United States and Canada, catering to carriers and brokerages that have LTL, FTL, hybrid, and multi-division service offerings.
Source: https://www.businesswire.com/news/home/20230620643042/en/Rose-Rocket-Raises-38M-USD-Series-B-to-Scale-its-Network-Centric-TMS-Solutions-while-Expanding-into-the-Enterprise