Turvo has announced the launch of its revolutionary “collaborative logistics” platform that empowers shippers, brokers and carriers to work together in real-time across the entire supply chain.
The company also announced it has raised $25 million in Series A financing from top-tier investors.
Logistics is an $8 trillion-dollar global industry(1) plagued by complexity and chaos – and it has been for centuries.
Currently, companies manage shipments using pen and paper, spreadsheets, and outdated software with countless redundant, manual tasks.
Communication is done through back and forth phone calls, emails, and faxes which is inefficient and error-prone.
“Turvo brings order to the chaos by connecting shippers, brokers and carriers to collaborate in real time, helping them take the time and cost out of shipping,” said Turvo CEO, Eric Gilmore, who co-founded the company.
Eric continued, “Logistics impacts every aspect of our lives and yet companies that need to move things from A to B still use archaic technology and operate in silos.”
Turvo's uniqueness lies in its groundbreaking connected cloud platform that provides real-time visibility of shipments, AI-powered productivity tools, and secure collaboration that breaks down traditional organizational silos.
While other solutions focus on more narrow aspects of logistics, such as on-demand trucking, freight forwarding, or track-and-trace of goods, Turvo spans the entire supply chain from orders and shipments to invoices and payments.
Based in Silicon Valley and with offices in Hyderabad, India, Turvo's founding team and investors have an unrivaled track record of building revolutionary products and companies.
The founding team includes:
Turvo's Series A funding was led by Activant Capital with participation from existing investors Felicis Ventures, Upside Partnership, Slow Ventures and Tony Fadell, inventor of the iPod, iPhone, and Nest.
Other investors include: Aaron Levie, co-founder and CEO of Box; Kevin Nazemi, co-founder of Renew.com and co-founder of Oscar Insurance; and Ravi Venkatesan, Chairman of Bank of Baroda and former Chairman of Microsoft India.
Founders of Turvo: Eric Gilmore, Sai Nagboth & Jeff Dangelo
“Turvo is one of those rare companies with an opportunity to revolutionize a global industry,” said Steve Sarracino, founder and Managing Director of Activant Capital. “Turvo has the total package of an incredible team, product and business model.”
“Turvo is revolutionizing logistics with an end-to-end IOT platform to create the 'Internet of Shipping,'” said Fadell, who was founder and CEO of Nest, the company that is widely credited for bringing the Internet of Things to the home and making it mainstream.
“Turvo goes beyond supplying a logistics platform. It also makes available a constantly learning and improving intelligent shipping assistant to help any shipper of any size meet or beat the best in the industry.”
Turvo is working with a number of iconic companies like Oberto Brands, the nation's leading all-natural jerky manufacturer; Le Metier De Beaute, a high-end cosmetics company; and Anchor Brewing, America's original craft brewery – as well as logistics providers like Service First Logistics (SFL).
“Turvo is game-changing. It solves some of the biggest and most complex problems in the industry with an elegant and empowering experience,” said Richard Blanch, founder and CEO of Le Metier De Beaute.
Turvo's software platform is smart, collaborative and easy to use. The platform works across the entire supply chain and includes the following features:
About Turvo
Turvo is the first real-time collaborative logistics platform connecting shippers, brokers and carriers to work together across the entire supply chain. Turvo revolutionizes the way things move by creating a standard way to share, communicate, and collaborate in real time. It is the most powerful platform to make smarter, faster, more informed decisions. Turvo takes away all the time and money spent doing redundant manual tasks and makes it easy to securely connect to anyone in real time.
(1) Logistics Market, Transparency Market Research Analysis, 2016
Read The Next Industry for Silicon Valley to Disrupt: Logistics
Redefining Collaboration
Horizontal collaboration is already happening, especially in last-mile delivery, but it’s hampered by inconsistencies. Higher levels of efficiency could be achieved by more consistent standards, defined through the Physical Internet and increased collaboration, whether in the form of alliances, joint ventures or M&A.
There are many ways for logistics companies to use assets more efficiently by collaborating. For example, by sharing fleets and networks, and establishing agreements similar to the airlift purchased by postal agencies from commercial couriers, or the code-sharing used by airlines.
Logistics Scenarios
Download the Paper: Shifting Patterns - The Future of the Logistics Industry