WorkHound, a software platform developed to help carriers reduce driver turnover, recently finished a $500,000 fundraising round to grow their business and help trucking companies around the country accelerate profitability by retaining their drivers.
The investment round was led by Right Side Capital Management out of San Francisco. Other participants were Dynamo Fund out of Chattanooga, TN, Twelve19 Ventures out of Des Moines, IA, and multiple angel investors.
“WorkHound helps logistics companies connect with their front-line workers. The result is a happier, more informed, and ultimately, more productive workforce,” said Ted Alling, managing director of Dynamo. “We're excited to have seen them grow through our program and help improve lives for those operating the backbone of America.”
Currently, WorkHound employs four full-time team members in Chattanooga and two in Des Moines.
“This funding is a great opportunity to put some rocket fuel behind our business and help more companies understand the importance of driver engagement and retention,” said Max Farrell, CEO of WorkHound. “It’s increasingly evident that turnover is an epidemic in the industry.”
While trucking remains WorkHound’s main focus, other industries that encounter difficulties with retention—namely, warehousing, manufacturing, and nursing—may not be far off on the horizon.
“Our number one objective is to continue building a product that trucking companies and their drivers love,” he said. “Retention, recruitment, and engagement remain a sore spot for many industries around the country, and this funding is just another step toward helping companies keep their most valuable asset—their people.”