SmartHop, a Miami, FL-based startup that uses AI to help interstate truckers make their routes more efficient and lucrative by removing administrative headaches, raised a $30 million Series B financing round, bringing the company’s total funding to $46 million.
The round was led by Sozo Ventures, with participation from existing investors like Union Square Ventures, RyderVentures, Greycroft, Equal Ventures, Las Olas VC, and The Fund.
With the fresh capital, SmartHop aims to focus more on its fintech products, like the company’s fuel card program that offers fuel discounts and other perks, or SmartHop’s insurance offerings.
SmartHop will also use the funds to scale its platform generally and grow its team, according to a statement from the company.
Company: SmartHop, Inc.
Raised: $30.0M
Round: Series B
Funding Month: April 2022
Lead Investors: Sozo Ventures
Additional Investors: Union Square Ventures, RyderVentures, Greycroft, Equal Ventures, Las Olas VC, and The Fund
Company Website: https://www.smarthop.com/
Software Category: Trucking Solutions
About the Company: Founded in 2016 by Joaquin Brillembourg, Guillermo Garcia, and Miguel Sucre. The company is headquartered in Miami, Florida. SmartHop is an artificial intelligence-powered platform that helps small trucking companies make smarter decisions, enabling them to make more money and have control over their business. SmartHop's AI-powered “business-in-a-box” solution helps owner-operators compete with the big carriers by reducing operational costs, streamlining load booking, and providing access to the vast broker networks previously only available to large carriers. SmartHop’s load network helps small owner-operators in the spot market pick the best loads from the largest pool, reduce dead hauls based on proximity and availability of load opportunities, and navigate fluctuations in the spot/contract market.
Source: https://techcrunch.com/2022/04/06/smarthop-raises-30m-to-boost-trucking-fintech-products/