Our Investment in Rose Rocket

We are very excited to announce our first investment in Ripple Ventures Fund II in Rose Rocket, a Toronto-based startup revolutionizing the trucking industry. They are building a modern, interconnected, and open TMS.

Trucking is ripe for disruption

• Trucking is extremely fragmented, with the top 20 brokers accounting for 4% of total revenue in the industry, and 80% of the carrier market made up of 1–5 trucks (micro/SMB).
• New ELD regulations forcing truckers to use GPS tracking devices, telematics have enabled a new wave of opportunities to leverage data.
• Shippers and retailers are requesting more transparency into their supply chain than ever before, but existing legacy solutions lack integrations, and the ability to meet these requirements.

Starting with order management

Most trucking operations are conducted largely over the phone and through email, which makes scaling quite difficult and lacks the ability to create audit trails of information.

There are many companies tackling areas of trucking (marketplace, payments, autonomous trucks), but none focus on the order itself which is arguably the most important area of them all. Without the order, there’s no truck on the road, and no data to process. It’s the source of truth in trucking.

Rose Rocket is solving the manually driven order management problem through their robust platform (API, Open TMS, integrated) that hopes to replace legacy incumbents like TMW & McLeod.

Seasoned team with deep domain expertise

The team at Rose Rocket has worked together throughout previous startups (FR8nex) and have 25+ years of combined experience in the trucking industry. We’ve had a long standing relationship with Justin, and have been impressed with his ability to execute on large goals over the past few years.

Matt Cohen, Managing Partner at Ripple Ventures will be joining the company’s board of directors.