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Trucker Tools has been acquired by ASG, a software-focused investment portfolio company. Announced on June 22nd.
Backed by private-equity fund Alpine Investors, ASG specializes in purchasing and building software companies as a service. Trucker Tools provides the transportation industry with a digital cargo management platform.
Prasad Gallapalli, CEO of Trucker Tools, said ASG’s experience in helping companies grow is part of the appeal of this deal.
“One of the things we are looking for when we look at our partners is the expertise to scale up quickly,” Gollapalli told Transport Topics. “It’s not just for transportation, but also outside. Their influence, expertise, and the technology we can borrow over the years, what we have to do.”
Gollapalli added that the goal is to scale up the Trucker Tools platform through technology investment and possibly future acquisitions. He says ASG has a proven track record of helping SaaS providers grow and build reliable and resilient software solutions. ASG has made 35 acquisitions so far.
Gollapalli believes that combining corporate resources will benefit its employees, suppliers and partners while expanding its community of users. Trucker Tools already has a user base that includes nearly 300 third-party logistics providers and broker customers, 1.4 million truck drivers, and 170,000 small fleet operators.
Gollapalli founded Trucker Tools in 2013 using a smartphone-based cargo visualization service. Since then, the company has debuted services such as capacity management, forecasted cargo matching, automated booking, real-time GPS-based visibility, and digital workflow services. Trucker Tools is headquartered in Reston, Virginia.
Jesse Buckingham, ASG Operations Executive, who joins Trucker Tools as Chief Revenue Officer, said the investment aims to help Trucker Tools gain the resources and expertise it needs to reach its full potential. I said there is.
“It’s primarily a way to help Trucker Tools realize its ambition to assist brokers through digital transmission, allowing them to invest more in product growth, building even better platforms for brokers and carriers. It’s about providing expertise in the brokerage, “said Buckingham.
In a broader sense, Buckingham pointed out that ASG is excited about the transportation sector. The transportation sector is fragmented and has many manual processes that are ripe for innovation. He said Trucker Tools stood out because they were navigating the sector’s digital transformation process while maintaining strong relationships with brokers and carriers.
“ASG aims to partner with companies in the long run,” said Buckingham. “When you find a really great team with great products, great brands and big markets, it’s the foundation of a really long and lasting partnership.”
Buckingham said: “The success of Trucker Tools comes primarily from our relationships with drivers, carriers and brokers. Many players are trying to disrupt transportation. But what makes Trucker Tools special is that they are digital transformers. I think the formation is a belief that it comes from working with the industry, not against it. The trust and deep relationships that we have gained from running this belief really make them stand out. “
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https://www.ttnews.com/articles/trucker-tools-acquired-asg Tracker tool acquired by ASG