- Rose Rocket — a SaaS provider of transportation management software (TMS) for trucking companies and 3PLs — announced a Series A round of $25 million. These are the details.
Rose Rocket — a SaaS provider of transportation management software (TMS) for trucking companies and 3PLs — announced a Series A round of $25 million. This funding round was led by Lee Fixel of Addition Capital and Mo Koyfman of Shine Capital with participation from Ripple Ventures, Scale-Up Ventures, Kevin Mahaffey, Funders Club and Y-Combinator.
Rose Rocket’s network-driven TMS is known for being a foundational shift in how trucking companies operate between their teams, drivers, customers, and partners. This funding round will help Rose Rocket, which has seen 9x customer growth in the past 12 months, scale operations and invest in product growth.
The trucking industry is undergoing a shift towards increased collaboration between players while multiple tailwinds are pushing the carrier industry towards more tech adoption. And Rose Rocket’s TMS brings efficiencies and automations to a trucking company’s entire freight network to solve the industry’s prominent problems: visibility, capacity, and communication.
When every party in a freight network is connected through Rose Rocket, it unlocks collaboration opportunities for trucking companies and 3PLs — all while adding transparency to every stage of the move. And this ultimately enables trucking companies to grow through better optimizing their networks rather than the traditional strategy of buying more trucks. Plus Rose Rocket has experienced unprecedented growth through a bottoms-up approach, honing in on the experience of the end-user to drive network adoption.
The future of freight and logistics is connected. And from automated software to automated trucks, the industry needs a newer generation of connected technology in order to fulfill visibility and capacity requirements driven by consumer demands. Rose Rocket is driving the next frontier of trucking software by building network-driven and highly connected solutions that are easy to adopt by every part of a freight network.
KEY QUOTES:
“When we started building trucking software, we found that the industry was left behind by the movement to SaaS. Over the past decade, we’ve seen the industry shift from pen and paper to on-premise systems to using modern software. This is the first time in our industry’s history where collaborative network effects are even possible. We are so excited to be able to continue building products that help our customers unlock their operations and network.”
— Justin Sky, CEO and Co-Founder of Rose Rocket
“Rose Rocket is uniquely positioned to be the transportation industry’s first network-driven SaaS company, where collaboration between the various network participants drives growth of the platform and opens up meaningful monetization opportunities. Rose Rocket’s world-class team is bringing the right product to market at exactly the right time.”
— Mo Koyfman, Founder and General Partner at Shine Capital
