Start-upâ€™s collaborative logistics platform empowers supply chain
April 11, 2017
California start-up Turvo has launched a collaborative logistics platform that empowers shippers, brokers and carriers to work together in real time across the supply chain. The company has also raised $25m in series A financing from top-tier investors.
Logistics is an $8tn global industry 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 Currently, companies manage shipments using pen and paper, spreadsheets and outdated software with countless redundant, manual tasks. Communications are 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. "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."
The company's uniqueness lies in its connected cloud platform that provides real-time visibility of shipments, AI-powered productivity tools, and secure collaboration that breaks down traditional organisational silos. While other products 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 a track record of building products and companies. For example, Gilmore was vice president of retail products at Quotient Technology where he created the Retailer iQ platform, was director of communications for Microsoft and then became a product executive in Bing's search business.
Sai Nagboth, co-founder and CTO, previously was director of retail products at Quotient Technology for the Retailer iQ platform and was an engineering leader and principal architect at Accenture. And Jeff Dangelo, co-founder and COO, was vice president of sales at MegaCorp Logistics and, prior to that, a member of the sales leadership team at Total Quality Logistics.
The 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.
"Turvo is one of those rare companies with an opportunity to revolutionise 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."
Fadell added: "Turvo is revolutionising logistics with an end-to-end IoT platform to create the internet of shipping. 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 such as all-natural jerky manufacturer Oberto Brands, cosmetics company Le Metier De Beaute and Anchor Brewing, as well as logistics providers such as Service First Logistics.
"Turvo is game changing," said Richard Blanch, founder and CEO of Le Metier De Beaute. “It solves some of the biggest and most complex problems in the industry with an elegant and empowering experience.”
The software platform is smart, collaborative and easy to use. The platform works across the entire supply chain and includes the following features:
- Cross-company collaboration: It keeps everyone on the same page by making it easy to share shipments and documents, send messages, and assign tasks to people both inside and outside the organisation, reducing back-and-forth phone calls and emails.
- Real-time visibility: It tracks shipments in real time from dispatch to delivery using the mobile app and hardware sensors, giving companies transparency into their supply chain.
- AI-powered productivity: Intelligent notifications, instant search, contextual actions and automated recommendations empower smarter, faster decisions.
- Billing and payments: With a single collaborative platform, digital invoices can be shared instantly and payments can be scheduled automatically, eliminating emails and faxes so everyone gets paid faster.
- Security and privacy: It is secure by design and built on an enterprise-grade cloud platform. Granular privacy controls ensure users always control who can see what.