Logistics software company Trusted Dispatch has received a $1 million Partner Preferred investment to expand and grow its solutions for shipping heavy machinery in Canada and the United States.
The company’s platform automates logistical matching and delivery connections for heavy equipment shippers and truckers by allowing shippers to generate quotes for their loads, matching the load to truckers with empty trucks and then settling invoices electronically, according to a Monday (Aug. 22) press release.
“Our customer base is growing fast, with thousands of commercial users all over North America using the platform each month,” Trusted Dispatch Founder and CEO Dusty LaValley said in the release.
The Preferred Partner round was led by Golden Section, a venture capital fund that invests in early stage B2B software companies led by entrepreneurs who understand the end customers’ problems, per the press release.
“Dusty LaValley and his team are experts in the shipping of heavy machinery,” Golden Section General Partner Dougal Cameron said in the release. “They know the problems truckers and heavy machinery distributors face, and they have solutions that provide tangible value.”
The announcement comes days after an application programming interface (API) platform for logistics tech builders called HyperTrack announced that it had raised $25 million in Series A funding to grow and expand its global engineering teams.
“Logistics represents 12% of global GDP, yet the technology that enables it is stuck in the past,” Sumir Chadha, managing partner of WestBridge Capital, which was one of the companies that led HyperTrack’s funding round, said at the time.
As PYMNTS reported Aug. 15, logistics and the transportation of goods across supply chains, across the middle and last miles especially, will keep pivoting toward a digital transformation.
Platforms, and payments within those platforms, will be critical in weathering the current (and next) rounds of inflation.
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