GenLogs' Intermodal Insights
GenLogs' Asset Locator Tool
GenLogs Founding Team (L-R): Joe Sherman (CTO), Ryan Joyce (CEO), Blake Balch (CSO)
ARLINGTON, VA, UNITED STATES, February 3, 2025 /EINPresswire.com/ -- Today, GenLogs announced its $14.6M Series A funding round led by Venrock and HOF Capital to fuel the freight industry after a few years of recession. Founded by former US Intelligence Community veterans, the Virginia-based company fuses data from their nationwide network of sensors with other third-party datasets in order to track truck locations, equipment pairings, and patterns. Their flagship Freight Intelligence platform helps freight brokers, shippers, and truck carriers securely uncover new revenue opportunities, boost operational efficiency, and reduce the risk of fraud and theft.
“Freight theft has been rampant in recent years with the thieves posing as truck carriers on the loadboards despite not operating any trucks,” said GenLogs CEO Ryan Joyce. “GenLogs unique ability to visually verify truck patterns allows our customers to source trusted carriers directly and boost carrier utilization rates -- which is a win for carriers, shippers, and brokers alike. This latest round of funding will help us collect and offer data to even more customers across the country.”
GenLogs further positioned itself as a secure alternative to the fraud-laden loadboards through the release of its ‘Real-Time Carrier Locations’ feature last month. Ideal for covering spot loads, GenLogs customers can now see which carriers in their network are currently in a market with the right equipment type, which they can verify from real-time images of the truck in the platform.
"The GenLogs Freight Intelligence platform is quickly becoming one of the most indispensable tools our teams are using daily to discover shippers and carriers we hadn’t known about previously,” said David Broering, the President of NFI Integrated Logistics. “As the brokerage landscape has become ultra-competitive, GenLogs is becoming an invaluable resource for our teams to discover new avenues for growth."
The GenLogs platform has taken the industry by storm with the company adding more than 60 customers over the last few months. One of the key features driving that growth is GenLogs’ ability to reveal shipper lanes and volumes in North America for over a quarter million facilities. This week, the company unveils its ‘Intermodal Insights’ feature which gives users the ability to filter shippers that have drayage truck volumes to or from Class I rail intermodal ramps. Users can also select a ramp and see all shippers or receivers serviced by this ramp – a key feature request from IMCs and rail operators alike. GenLogs plans to add drayage data from US ports later this year.
“The GenLogs team created a company that’s already proving its potential with rapid industry traction. The technology is remarkable, but more important is the team behind the tech,” said Venrock’s Morgan Hitzig. “Ryan, Joe, and Blake exemplify the best kind of founders — they’re willing to live in their market, deeply understand their customers’ problems, and build relentlessly to solve them. GenLogs is in a league of its own in freight management, and this founding team made one thing abundantly clear: The sky’s the limit.”
Venrock and HOF Capital were joined in this round by Steel Atlas, AutoTech Ventures, Venture53, TitletownTech, Plug and Play Ventures, and Heartland Ventures – bringing the total raised by GenLogs to over $21M. GenLogs plans to use the funds to quadruple the size of its North American sensor network – to include adding sensors in Mexico and Canada -- and also expand into new verticals, including commercial auto insurance, rail, ports, and federal.
About GenLogs
GenLogs is the Freight Intelligence platform that delivers proprietary insights via a nationwide network of sensors, commercial, and open-source datasets. Its goal is to unlock $7 trillion of new global freight flows while fighting $30 billion of fraud and theft. To learn more, visit www.genlogs.io and follow GenLogs on X and LinkedIn.
Ryan Joyce
GenLogs Corporation
email us here
Visit us on social media:
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
