SmartHop, a Miami, FL-based total dispatch solution that enables businesses to truck smarter, raised $12m in Series A financing.
The round was led by Union Square Ventures with participation from RyderVentures — a new corporate venture capital fund by leading logistics company Ryder System, Inc. — Equal Ventures, and Greycroft.
The company, which has raised $16.5m in total funding since its 2018, will use the funds to continue investing in its full-service dispatching platform, to grow its team and to seek strategic partnerships.
Led by Guillermo Garcia, co-founder and CEO, SmartHop provides an AI-powered “business-in-a-box” solution for owner-operators to compete with big carriers by reducing operational costs, streamlining load booking and providing access to a vast broker networks. Its load network helps small owner-operators in the spot market pick the best loads from the largest pool, reduce dead hauls based on proximity and availability of load opportunities, and navigate fluctuations in the spot/contract market.
Guillermo Garcia worked as a pet food delivery driver and turned it into a 500-person trucking company in his native Venezuela before immigrating to the U.S. He attended Columbia business school, built a small carrier service in Miami and eventually launched SmartHop in 2018. Since its $4.5M seed round in early 2020, the company has grown its team and network, adding a number of trucking and logistics veterans, and announcing key partnerships with logistics players including Loadsmart, Redwood Logistics and Parade.