Class8 raised $22 million in Series A funding to support its solutions portfolio for trucking businesses. Xplorer Capital led the round with participation from new investor Commerce Ventures and returning investors Inspired Capital and Resolute Ventures, according to a news release.
The Toronto-based company offers a platform that brings together OEM, or original equipment manufacturer, data and artificial intelligence capabilities to streamline fleet operations. Its features enable automated, data-driven dispatch and load optimizations. Class8 expects its latest backing will accelerate efforts to deliver logistics technology that benefits both carriers and drivers.
“This investment allows us to leverage OEM-driven insights to bring carriers clarity, control and profitability. Class8 flips the script on data by turning it into actionable insights, empowering carriers and drivers to thrive in even the most volatile markets,” Class8 CEO Chris Atkinson said in a statement.
