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Vector gets $12 million in funding, ramps up for continued growth

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Vector gets $12 million in funding, ramps up for continued growth
Vector will use the Series A funding to continue to expand its back office document management solutions. (Courtesy: VECTOR)

SAN FRANCISCO — Vector, the mobile-first scanning and workflow management solution for the trucking industry, has closed a $12 million Series A funding round led by Goldcrest Capital with participation by 8VC and Congruent Ventures.

Vector will use the Series A funding to continue to expand its back office document management solutions, enabling fleets to manage higher volumes of freight with fewer resources.

Vector connects trucking fleets and their drivers in real time via the driver’s smartphone — drivers can take a perfect scan of paperwork and send it to the back office in seconds with Vector’s app. Drivers can also get real-time dispatch information about their past, current, and scheduled load pickups and drop-offs.

For the back office, Vector pulls and indexes structured information from documents—like addresses, SKUs, and other information (including bar codes and handwriting) — eliminating manual processing. It integrates with existing systems (like TMS and AS/400) and is highly customizable to specific needs and workflows, enabling real-time visibility and connection across a company’s operations.

“We’re excited to leverage this funding into new product development and customer service support,” said Vector co-founder and CEO Will Chu. “This will enable trucking fleets to move more freight with fewer resources. The Vector platform does that by eliminating paper and automating processes — and enabling real-time communication, document sharing, and visibility across all of a fleet’s operations. We believe that even the most powerful business software can and should be as easy to use as any app on your smartphone, and we’ve built Vector from the ground up with that philosophy.”

Vector is a mobile-first document scanning and workflow management platform built for trucking. The Vector app makes it easy for drivers to take high-quality scans of bills of lading, scale tickets, OS&Ds, and any other type of paperwork. Vector automatically sends each document type to the correct person or department in the back office using OCR and intelligent text extraction.

Vector indexes structured information (including SKUs, bar codes and handwriting) to eliminate manual processing, and can automatically invoice shippers, including the specific documents they require and their billing preferences.

For more information, visit https://withvector.com/overview

 

 

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Interesting demo on fuel savings with nanotechnology

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Interesting demo on fuel savings with nanotechnology

Niki talks with Andy and Doug of TK7 Products about an amazing fuel additive made from nanotechnology that can save your pocket book an exponential amount.

Courtesy: The Truck Boss Show

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Technology

Trimble to Acquire Kuebix in effort to create a transportation logistics ecosystem

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Trimble to acquire kuebix in effort to create a transportation logistics ecosystem
Combined Cloud Platform to Create the Largest Connected Network of Shippers and Carriers in the North American Supply Chain, Improving Resource Utilization and Reducing Costs. (Courtesy: Kuebix)

SUNNYVALE, Calif. — Trimble announced it has signed an agreement to acquire Kuebix, a transportation management system (TMS) provider and creator of North America’s largest connected shipping community. This acquisition will result in Trimble’s private and commercial carrier customers, including more than 1.3 North American trucks, to connect with Kuebix’s shipping company network of 21,000 carriers and companies.  The result, according to Trimble officials, will be a new platform for planning, executing and matching freight demand-capacity. The transaction is expected to close in the first quarter of 2020. Financial terms were not disclosed. Kuebix will operate within Trimble’s transportation sector of services.

“Combining Kuebix’s innovative platform and rapidly-growing community of shippers with Trimble’s history of innovation, strength and scale will provide a transformative transportation supply chain solution that creates new opportunities for collaboration throughout the logistics ecosystem,” said James Langley, senior vice president, Trimble Transportation. “This combination will help carriers uncover inefficiencies in their network, make better decisions, optimize operations and transform the way the transportation industry works.”

Today, shippers, carriers and intermediaries operate with what Trimble refers to as “fragmented TMS software.” Kuebix’s capabilities will allow for Trimble to break down technology barriers, enable actionable visibility and improve collaboration. A single logistics platform for all participants in the supply chain, Software-as-a-Service (SaaS), is a multi-tenant, cloud platform allowing Trimble to optimize the entire logistics process from order management to financial settlement. Likewise, SaaS will improve efficiency and asset utilization for carriers and provide shippers access to expanded capacity and reduced costs.

“For more than a decade, Kuebix has served shippers with supply chains of all sizes and complexities, transparently connecting them directly to their carriers for the pricing, service levels and visibility they need to run their businesses,” said Dave Lemont, CEO of Kuebix. “We are excited to join Trimble and expand the investment in our platform to serve new audiences and increase collaboration and savings for shippers and carriers alike.”

“The combination of Trimble and Kuebix will accelerate the realization of our vision; a world where shippers, carriers and intermediaries leverage the same powerful TMS platform to provide the market with unprecedented levels of visibility and efficiency,” said Dan Clark, founder and president, Kuebix. “A single-platform TMS across all transportation modes will make it easier for shippers and carriers to plan their strategy, design an optimized transportation network, improve execution, and more accurately

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Did you get one of these for Christmas?

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If you have alexa, you have the trucker!

Did you get an Alexa for Christmas?

If so, you can now listen to The Trucker news daily!

Just download the Alexa skill for TheTrucker.com Daily News and you will always be up to date with the latest news in trucking.

Add the Alexa skill for TheTrucker.com Daily News using the Alexa app (shown below).

Did you get one of these for christmas?

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