Trucking compliance solutions startup LogRock, which is designed to help commercial motor carriers minimize regulatory and legal risks, recently raised $3.5 million in seed funding.
LogRock said its solutions help fleets reduce equipment and driver time spent out of service, keep insurance rates down, and reduce regulatory and litigious risk. The seed funding was led by Dynamo Ventures, a seed-stage supply chain fund, with additional participation from QED and 9Yards Capital.
The platform is the brainchild of Hunter Yaw and João Bosco, the former head of product and CTO of freight logistics provider Loadsmart, respectively. After four years with Loadsmart, the duo co-founded and launched LogRock late last year.
“As the freight markets are predicted to cool over the coming months, motor carriers will also need to maximize their competitive advantage when competing for premium freight from shippers and brokers,” said Bosco, LogRock COO. “Carriers who can prove they have a strong safety record and are fully compliant will have an edge in this battle.”
LogRock customer Pavel Botev owns Logiflex, a Chicago-based 150-truck carrier, which uses the platform to ensure there are no holes in the company’s regulatory and compliance strategy.
“LogRock treats compliance as a data problem, checking every detail in real-time, giving us insight on where we need to take action to be 100% compliant and helping me understand how we are performing compared to our peers,” Botev said in a press release. “I sleep better knowing that, because of LogRock, when the FMCSA comes to inspect me or documents are subpoenaed there are no gaps in our armor.”
“The importance of the trucking industry to the broader economy has never been clearer, and yet every day small- to mid-sized fleets struggle under the administrative burden of staying compliant with state and federal regulations,” said Yaw, LogRock co-founder and CEO. “LogRock’s mission is to have truckers’ backs as they keep America’s freight moving, while also making the roads safer.”