Rose Rocket Announces $25 Million in Funding for Trucking Operating Software

By Thomas Price Wednesday, October 13, 2021

Rose Rocket is a software as a service (SaaS) startup that has created a comprehensive operating system to help business owners manage trucking fleets at every mile of a trip. The company recently announced the close of its Series A funding round. The funding will help support the growth of the business and allow the company to invest in its current product.

RoseRocket's Founders: Alexander Luksidadi, Justin Sky, and Justin Bailie.

Rose Rocket Product and Rapid Growth of Business

SaaS startup Rose Rocket has designed and launched a trucking operations and management software system built for business owners with trucking fleets or third-party logistics companies. The software automates order entries to help create a more efficient workflow. The logistics software still allows for manual entries as well. Additionally, the SaaS startup has designed a quoting engine to estimate the cost of deliveries between cities.

Following price estimates, business owners can dispatch drivers based on availability through the logistics software. The company then tracks trucks in real time to monitor the status of the trip. Business owners also receive instant updates should any issues or accidents occur. Finally, once a truck reaches its destination, all delivery documents are synced automatically to the Rose Rocket network. 

The Rose Rocket software fully integrates into current systems. The software’s compatibility helps business owners maintain their logistics operations up-to-date without any difficulties. The company also provides analytics on routes to build a more efficient delivery schedule and save money and time. 

Since launching its trucking operating software, the SaaS startup has experienced a significant rise in business. Over the last 12 months, the company grew its customer base by 9X. The SaaS startup now supports major companies such as United Van Lines, Mayflower, Freightworks, Trimac, and Gulf Relay. This has helped Rose Rocket generate significantly more revenue. 

The rapid business growth has helped the SaaS startup garner attention from several different investors who expect more logistics technology integration into the trucking industry moving forward.

Rose Rocket Funding Round and Future Plans

In its Series A funding round, Rose Rocket raised $25 million in capital. The funding round was led by Lee Fixel of Addition Capital and Mo Koyfman of Shine Capital with participation from Ripple Ventures, Y Combinator, Scale-Up Ventures, Funders Club, and other individual investors. 

The company plans to use the newly raised capital to begin scaling up its current business operations by hiring new employees to help grow its customer base and manage further company expansion in the near future. The SaaS startup also plans to invest in its current logistics software and add new features that will expand its versatility. 

In a statement released alongside the new funding announcement, co-founder and CEO of Rose Rocket Justin Sky said, “When we started building trucking software, we found that the industry was left behind by the movement to SaaS. Over the past decade, we've seen the industry shift from pen and paper to on-premise systems to using modern software. This is the first time in our industry's history where collaborative network effects are even possible. We are so excited to be able to continue building products that help our customers unlock their operations and network.”

About the Author

Headshot for author Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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