Las Olas Venture Capital Announces Investment in SmartHop
LOVC invests alongside Anheuser-Busch InBev into logistics tech startup's first round.
Dec 20, 2018, 16:46 ET
MIAMI, Dec. 20, 2018 /PRNewswire/ -- Las Olas Venture Capital (LOVC) announces an investment in SmartHop. SmartHop automates the route planning and dispatching decision-making process for truckers on the road. Its machine-learning-enabled system modernizes the traditional dispatching model, which is largely a manual and cumbersome process. Ultimately, the company's mission is to help truckers become great entrepreneurs and eliminate $40Bn in waste with a unique technology, by pairing empty spaces from truckers on the road who want to make more money with brokers and shippers who want to reduce transportation costs.
"We were a bit skeptical of bringing a VC on to our company so early on - few VCs like to walk this painful path with founders, and even fewer are truly helpful by understanding the process," said Guillermo Garcia, CEO and co-founder. "LOVC is extraordinary, they have been in our shoes as founders which makes them super valuable."
SmartHop is becoming the trusted platform for truckers by providing them with free tools that help make their job easier (planning, dispatch, demand management, among others) and utilizes that usage data to offer superior recommendations. Shippers and brokers use SmartHop to access available supply and optimize cost by reducing waste in a system where load matchmaking is made more efficient. Currently the company is focused on building product and assuring successful outcomes—early-adopter customers, independent truckers, and partners such as Anheuser-Busch InBev, among other top enterprises are top priority. With this financing round they plan to expand engineering, sales, and customer success capabilities.
"We're honored to join the SmartHop team on their journey. SmartHop is solving a huge problem for the trucking industry that has had limited technology solutions, and we are excited to be working together" said LOVC Founding Partner Esteban Reyes.
About Las Olas Venture Capital
Las Olas VC is a Florida-based early stage fund that invests in startups in a variety of industries. Las Olas VC's mission is to find outstanding entrepreneurs in non-obvious places and maximize their impact by connecting them to networks of capital, talent, and customers in well-established startup ecosystems. Dean Hatton, Esteban Reyes, Paul Tanner and Mark Volchek are the Founding Partners of Las Olas VC.
For more information visit www.lasolasvc.com
Contact Information:
[email protected]
SOURCE Las Olas Venture Capital