SUNNYVALE — Turvo announced the launch of its revolutionary “collaborative logistics” platform that empowers shippers, brokers and carriers to work together in real-time across the entire supply chain. The company also has raised $25 million in Series A financing from top-tier investors.
The Series A funding was led by Activant Capital with participation from existing investors Felicis Ventures, Upside Partnership, Slow Ventures and Tony Fadell, inventor of the iPod, iPhone, and Nest. Other investors include: Aaron Levie, co-founder and CEO of Box; Kevin Nazemi, co-founder of Renew.com and co-founder of Oscar Insurance; and Ravi Venkatesan, Chairman of Bank of Baroda and former Chairman of Microsoft India.
Logistics is an $8 trillion-dollar global industry plagued by complexity and chaos – and it has been for centuries. Currently, companies manage shipments using pen and paper, spreadsheets, and outdated software with countless redundant, manual tasks. Communication is done through back and forth phone calls, emails, and faxes which is inefficient and error-prone.
“Turvo brings order to the chaos by connecting shippers, brokers and carriers to collaborate in real time, helping them take the time and cost out of shipping,” said Turvo CEO, Eric Gilmore, who co-founded the company. “Logistics impacts every aspect of our lives and yet companies that need to move things from A to B still use archaic technology and operate in silos.”
Turvo’s uniqueness lies in its groundbreaking connected cloud platform that provides real-time visibility of shipments, AI-powered productivity tools, and secure collaboration that breaks down traditional organizational silos. While other solutions focus on more narrow aspects of logistics, such as on-demand trucking, freight forwarding, or track-and-trace of goods, Turvo spans the entire supply chain from orders and shipments to invoices and payments.
The company is based in Silicon Valley and with offices in Hyderabad, India.