Rose Rocket, whose platform helps transportation companies communicate, raises $38M

▤ Summary

Rose Rocket, a software-as-a-service transportation management system (TMS), is aimed at helping trucking and logistics companies manage their business.The key issues facing the industry are capacity, visibility, supply chain disruptions and labor shortages and the antiquated systems and applications that enable these problems to only get worse, Sky, Rose Rockets CEO, told TechCrunch in an email interview. Like the way customer relationship management became table stakes technology in the past decades, the TMS is a system of truth for transportation companies, and the industry is rapidly adopting our software to modernize their business operations.Indeed, Rose Rocket appears to have gained some measure of traction, with a customer base ranging between 1,000 and 1,500 clients. And Rose Rocket can integrate apps that customers need to run their business, minimizing duplicate data entry and allowing for real-time updates.Rose Rocket built a product-led growth methodology to ensure that every user can self onboard onto the tool, allowing for companies to minimize business continuity risks when the industry continues to face a shift in talent and management, Sky said.It appears to be a winning strategy.Today, Canada-based Rose Rocket announced that it closed a $38 million Series B funding round led by Scale Venture Partners with participation from Addition Capital, Shine Capital, Scale-Up Ventures, FundersClub and Y Combinator. It brings the companys total raised to $69 million and will be used to bolster the companys expansion into larger fleets as well as support investments in product development and network collaboration efforts, Sky says.Trucking is an economically strong and stable sector, he added. As far back as 2018, TMS was gaining steam as the benefits of digitization came into sharper focus for the $800 billion-per-year-in-revenue transportation industry.

$ Funding

▦ Linked Companies

Rose Rocket

$10M to $25M