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LogRock aims to help truck fleets stay off FMCSA’s radar

Compliance software provider closes $2M funding round to expand product suite

LogRock raises an additional $2 million from investors. (Photo: Jim Allen/FreightWaves)

Trucking compliance software provider LogRock announced it has closed an additional $2 million seed round led by Better Tomorrow Ventures with participation from previous investor Dynamo Ventures, which led the company’s initial $3.5 million seed funding in May.

LogRock co-founder and CEO Hunter Yaw told FreightWaves carrier compliance has not always been the “sexiest” transportation topic to discuss but is a necessary one.

“If you look at trucking from the outside, you would think the most important thing to keep your eye on is the driver. Yet, many of the challenges carriers face on a daily basis come from issues with compliance,” he said.

Funding detailsLogRock
Funding amount$2 million
Funding roundSeed round
Lead investorBetter Tomorrow Ventures
Secondary investorsDynamo Ventures
Business goals for the roundExpand product solutions
Total funding$5.5 million

These challenges can include insurance prices, recruitment capabilities, maintenance and building shipper partnerships — all evergreen problems that attracted the investors of its most recent round.

“A lot of investors in this investment period are focused on evergreen problems — challenges that happen no matter what the supply and demand markets are doing,” he said.

According to LogRock, in 2022 alone, over half of fleets that have gone through an FMCSA audit have received a “conditional” or “unsatisfactory” status.

“[Department of Transportation] compliance was always important for trucking companies,” said Jake Gibson, a founding partner at Better Tomorrow Ventures. “With lawsuits on the rise and freight markets cooling, LogRock is well positioned to help fleets save real money by staying off the FMCSA’s radar and steering clear of avoidable court cases.” 

LogRock’ intends to use the latest funding to expand its product suite and grow strong partnerships with other solutions providers.

“By listening to trucking company owners as we likely enter a recession, we have been able to develop features to help them survive the storm. This additional round of investment will help us to accelerate development of new features that will directly affect trucking companies’ financial stability,” said João Bosco, LogRock co-founder and chief operating officer.

Bringing all of these solutions together and creating long-term value for clients is why Dynamo Ventures continues to support LogRock.

“Trucking companies need to actively monitor data from up to 10 different systems simultaneously to stay compliant,” said Jon Bradford, managing partner at Dynamo Ventures. “The universal feedback from LogRock’s clients is that LogRock’s ability to consolidate this information into an easily understood dashboard with real-time integrations to ELDs, the FMCSA, driver recruiting tools and others is a game changer.” 

Watch now: LogRock Raises $3.5M In Seed Funding

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One Comment

  1. Lori

    Half of audited fleets in 2022 were conditional or unsatisfactory? If that is accurate, i would think that would be a topic FreightWaves would have covered. Sounds like a made up statistic.

Comments are closed.

Grace Sharkey

Grace Sharkey is a professional in the logistics and transportation industry with experience in journalism, digital content creation and decision-making roles in the third-party logistics space. Prior to joining FreightWaves, Grace led a startup brokerage to more than $80 million in revenue, holding roles of increasing responsibility, including director of sales, vice president of business development and chief strategy officer. She is currently a staff writer, podcast producer and SiriusXM radio host for FreightWaves, a leading provider of news, data and analytics for the logistics industry. She holds a bachelor’s degree in international relations from Michigan State University. You can contact her at [email protected].