News Briefs

Trucking software provider Rose Rocket closes $38m Series B round

Scale Venture Partners led the deal, with participation from existing investors Addition Capital, Shine Capital, Scale-Up Ventures, Funders Club and Y-Combinator.

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  • The round brings Rose Rocket’s total funding to date to $69 million
  • Rose Rocket’s network-driven transportation management software allows trucking companies to leverage their network of drivers, customers and partners to unlock visibility and capacity
  • The funds raised will be used to accelerate the company’s expansion into larger fleets and to accelerate its investments in product development and network collaboration efforts

Rose Rocket, a Toronto-based provider of enterprise-grade transportation management software (TMS) for trucking companies and 3PLs, has secured $38 million in Series B financing.

The round brings the company’s total funding to date to $69 million.

Scale Venture Partners led the deal, with participation from existing investors Addition Capital, Shine Capital, ScaleUp Ventures, Funders Club and Y-Combinator.

Rose Rocket’s network-driven transportation management software allows trucking companies in North America to leverage their network of drivers, customers and partners to unlock visibility and capacity. Additional product offerings include a driver mobile app, customer and partner portal technology and an open architecture that allows for native integrations, EDIs, APIs and more.

The funds raised will be used to accelerate the company’s expansion into larger fleets and to accelerate its investments in product development and network collaboration efforts to serve its customer base.

“Within the massive transportation and logistics industry, the mid-market and enterprise operate with highly custom workflows, and no two companies are the same. The TMS that wins in this space must be able to accommodate for changes in how companies work,” said Alex Niehenke, general partner at Scale Venture Partners, in a statement. “Rose Rocket stands alone in its ability to serve companies of all sizes, bringing together everyone in the freight network. Its platform can fundamentally shift how transportation companies run at a time when help is desperately needed.”