Total amount raised
$91.6 Millions
Latest funding date
06/01/2022
Location
Title
Turvo has successfully raised significant funding to support its innovative transportation management software. The platform offers a comprehensive suite of solutions designed to enhance collaboration and efficiency across the supply chain.
Keep reading to explore the intricacies of Turvo's fundraising journey and the investors backing this transformative platform.
What Is Turvo?
Turvo, founded in 2014, is headquartered in the bustling tech hub of San Francisco, California. The company was established by Eric Gilmore, Jeff Dangelo, and Sai Kanajan.
Turvo specializes in providing a collaborative logistics platform that integrates various systems to offer real-time actionable insights. Their cloud-powered transportation management system (TMS) is designed to enhance communication and efficiency across the supply chain.
With a growing team of over 200 employees, Turvo continues to innovate and transform the logistics industry, making it easier for businesses to manage their transportation needs.
How Much Funding Has Turvo Raised?
- Series A Funding Round
- Amount Raised: $25 million
- Date: March 28, 2017
- Lead Investors: Activant Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Turvo's goal of transforming the logistics industry by enabling real-time collaboration and visibility across the supply chain.
- Series B Funding Round
- Amount Raised: $60 million
- Date: November 8, 2018
- Lead Investors: Mubadala Investment Co.
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage Turvo's technology to support Mubadala's diverse business interests in sectors like semiconductors, mining, and energy.
Turvo has raised a total of $85 million. The current valuation is not publicly disclosed.
Key Investors
- Lineage Logistics
- Details: Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. They have a global network of over 400 facilities across 20 countries.
- Investment Focus Areas: Temperature-controlled logistics, supply chain efficiency, sustainability, innovative technology solutions.
- Notable Investments: Not specifically detailed.
- Bay Grove
- Details: Bay Grove is a private equity firm that founded and manages Lineage Logistics. They focus on investing in technologies that transform the global food supply chain.
- Investment Focus Areas: Supply chain collaboration, efficiency, food supply chain technologies.
- Notable Investments: Lineage Logistics.
- Mubadala Investment Co.
- Details: Mubadala Investment Co. is a state-owned investment fund from Abu Dhabi. They are involved in a wide range of sectors including semiconductors, mining, and energy.
- Investment Focus Areas: Semiconductors, mining, energy, various industries.
- Notable Investments: Not specifically detailed.
- Activant Capital
- Details: Activant Capital is a private equity firm that led Turvo's Series A funding round. They focus on growth-stage investments in technology and commerce.
- Investment Focus Areas: Technology, commerce, growth-stage companies.
- Notable Investments: Not specifically detailed.
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that participated in Turvo's Series A funding. They are also an investor in Flexport.
- Investment Focus Areas: Logistics, technology, early-stage companies.
- Notable Investments: Flexport.
What's Next for Turvo?
With the acquisition by Lineage Logistics and Bay Grove, Turvo is poised to accelerate innovation and expand into new markets. The platform's integration with Lineage's global network offers a significant opportunity to enhance supply chain visibility and address challenges like driver shortages and port congestion.
Future investments from Lineage and Bay Grove could further support Turvo's growth, enabling it to scale its technology and market reach. However, Turvo will need to navigate the complexities of integrating its platform on a global scale while maintaining operational independence.
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