Rose Rocket Receives $38 Million Investment

Rose Rocket announced that it has received 38 million dollars in an investment round led by Scale Venture Partners. Toronto-based Rose Rocket has completed an investment round, joined by Y Combinator and several other institutional backers. This round follows the $25 million raise they announced in October 2021. Rose Rocket noted that between the two rounds, the number of logistics companies and other organizations increased 47-fold.

Also See: Accenture Will Invest $3 Billion for Artificial Intelligence

Investment in Transportation Management Systems is Increasing!

Rose Rocket provides a transportation management system, or TMS, which bears its name. A TMS is an application that transport companies use to process freight transportation requests from customers. Rose Rocket's TMS also promises to streamline many other tasks such as delivery fleet management. Rose Rocket's platform allows transportation companies to create a web-based portal for each customer. Through this portal, customers can place orders on a self-service basis, which reduces the manual workload of logistics teams. Rose Rocket's platform also automates the quotation creation process once the order has been placed.

When a shipment is in progress, Rose Rocket's customer portal provides a map that tracks the instant location of the goods and provides relevant information. Logistics companies use this portal to share shipment updates. For example, if a truck is due to arrive earlier than estimated, the logistics company can alert the retailer. In addition to facilitating customer management tasks, Rose Rocket is committed to streamlining other operational processes of logistics companies. Its platform offers a mobile application through which distribution officers can communicate transportation data to truck drivers. Furthermore, the company offers a range of features aimed at reducing the need to copy data between back-office business applications.

Companies with advanced needs can customize certain parts of the Rose Rocket platform. According to the company, the platform offers the ability to create custom software workflows to speed up manual tasks. Logistics teams can use a user-friendly interface to create workflows without creating code, requiring no programming skills.