Venture Funding

FleetUp Names New CEO, Logs $20 Million


MILPITAS — FleetUp, a provider of software for trucking and transportation companies to manage Electronic Logging Devices (ELD) and Hours of Service (HOS) compliance, has completed $20 million in funding led by HUMAX.

FleetUp has hired HUMAX’s corporate chief strategy officer and president of HUMAX Americas & China, Albert Son, PhD, as its new CEO.

Son has served as a leading executive at HUMAX for the last two decades, pioneering corporate strategic alliance and global expansion throughout Europe, Asia, and fueling $700M in revenue for the Americas market alone. In his new role at FleetUp, Son will bring his strategy formulation expertise and business development experience to bear in leading the intelligent fleet management solution for the company’s Americas and international markets.

“HUMAX believes in FleetUp’s potential to scale globally —so much so that we decided to place our top executive as the new CEO, and invest $20 million in the company’s fleet technology solutions,” said Kim Tae-Hun, CEO of HUMAX. “With his vast experience in achieving global market excellence, we are confident in Albert’s leadership, and our growing partnership with FleetUp to successfully provide reliable compliance and management solutions to fleet managers worldwide.”

FleetUp’s North American expansion initiative launches in advance of the 2020 Canadian ELD Mandate, as announced by Canadian Transport Minister Marc Garneau on December 18, 2017. Further international business opportunities and technology partnerships are currently being excavated, and will benefit from the influence and global footprint of HUMAX.

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