New funding equips AI-for-logistics company to capture significant market opportunities and enhance productivity across the industry

December 02, 2024 08:32 AM Eastern Standard Time

SAN FRANCISCO–(BUSINESS WIRE)–Vooma, a powerful and fast-growing AI platform designed for freight brokers and carriers of all sizes, today announced it secured $13 million in Series A funding led by Craft Ventures. The Series A adds to a previous $3.6 million seed round led by Index Ventures with participation from angel investors including founders and executives from major logistics and technology companies such as Motive, Project44, Ryder and Uber Freight. The investments in Vooma, driven by strong customer demand, underscore the company’s market potential and technology, and accelerate its trajectory for continuing growth.

“The United States moves approximately 11.5 billion tons of truckloads annually, and moving freight from point A to B requires hundreds of touchpoints between shippers, brokers and carriers”Post this

Vooma’s AI platform empowers logistics companies to more rapidly and efficiently scale their operations by reducing time spent on tedious and manual work and creating space to solve real logistical challenges, while also investing in relationships that are critical to success. The company has built Vooma Agents, the first-of-its-kind multi-channel AI platform for logistics. Agents built on Vooma’s platform can operate across email, text and voice channels, allowing for automation in workflows that were previously unaddressable by existing systems.

Since its launch in 2023, Vooma has attracted many of the logistics industry’s top brokers and carriers as customers, including Echo, MODE, Arrive Logistics and NFI. Vooma has grown revenue by 12.5x, increased transaction volume by over 32x and built hundreds of thousands of loads. The company is also partnering with leading communication, pricing and transportation management systems including Front, Greenscreens.ai, McLeod and Turvo.

Vooma’s new funding will be invested towards growing the team across engineering, go-to-market and customer success to support mounting demand for products powered by Vooma Agents:

• Vooma Quote, which identifies quotes, drafts email responses and determines whether opportunities were won or lost. Customers have reported saving five minutes per quote, which quickly adds up to hours of time freed up for more strategic tasks each day.
• Vooma Build, a data-entry assistant for load building that completes the tedious order entry process within seconds, enabling teams to save up to 10 minutes on each load build. Customers to-date have been able to automate up to 80% of their manual order entry, reducing errors and fueling scalability for rapid growth.
• Vooma Voice — the company’s newest product launch — which can make and receive calls for brokers and carriers to streamline tasks such as inbound load bookings, appointment scheduling and carrier check calls.

“Relationships are critical for our company’s success,” said Jack Twyman, Chief Customer and Digital Officer at MoLo Solutions, a top-15 freight broker. “Vooma’s platform effectively integrates with our systems and allows our team and our customers to gain efficiency, without changing how we do business. We can offload rote tasks to stay focused on customer service and work that requires the human touch so we can keep building meaningful relationships to drive our business forward.”

Vooma was founded by two logistics and technology experts — Jesse Buckingham, former CEO of ASG LogisTech, and Mike Carter, former employee #2 and founding engineer at Kodiak Robotics — who have built a strong team of talent with deep industry experience. The company is dedicated to delivering powerful and reliable AI solutions designed to empower the entire logistics workforce.

“The United States moves approximately 11.5 billion tons of truckloads annually, and moving freight from point A to B requires hundreds of touchpoints between shippers, brokers and carriers,” noted Buckingham. “By introducing AI that fits naturally into existing systems, workflows and communication channels used across the industry, we are meaningfully reducing the tasks people dislike and freeing up their time and headspace for more meaningful and complex challenges.”

“We are at an inflection point where cross-channel digital agents powered by AI and LLMs will transform the way we work,” added Carter. “Vooma’s cross-channel agent is delivering against AI’s immense potential for the logistics industry.”

“Transportation is the backbone of the U.S. economy,” said Lainy Painter Singh, Partner at Craft Ventures. “The Vooma team has a deep understanding of the end market and appreciation for the complexity of its systems. We believe the company will not only delight customers with AI solutions that make their businesses more efficient, but help solve the industry’s most pressing challenges.”

Additional investors in Vooma’s Series A include Definition Capital, HOF Capital, Soma Capital, Operator Stack Fund and Index Ventures.

About Vooma

Vooma is the AI agent for logistics. Vooma takes care of tedious work for brokers and carriers so they can focus on winning freight, serving customers and building relationships that grow their businesses. Learn more at vooma.com and explore exciting opportunities to join our team here.

Contacts

Media Contact:
Niyati Desai Jolis
niyatidesaijolis@gmail.com

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