FleetWorks Raises $17M

The thousands of small trucking companies that help move goods around the United States have a fairly old-school way of doing things, according to Paul Singer. He would know — he left his product manager job at Uber Freight to start a company called FleetWorks, which he believes will modernize things. Created during Y Combinator’s Summer 2023 batch, FleetWorks has been developing a marketplace that leverages artificial intelligence to make faster matches between carrier companies and goods that need to be moved, freeing up more time for workers on both sides of the transaction. Singer and co-founder Quang Tran, who worked on “moonshot projects” at Airbnb, think it’s a massive opportunity, and they’ve found some serious buy-in: FleetWorks claims to have brought more than 10,000 carriers and dozens of brokers (including Singer’s old employer Uber Freight) onto its marketplace in the first six months. To push things further, FleetWorks has raised $17 million to put toward hiring, commercial expansion, and product development, including a newly launched “always-on” AI dispatcher. The funding includes a $15 million Series A round led by First Round Capital’s Bill Trenchard, who also led Uber’s seed round in 2010. Y Combinator, Saga Ventures, and LFX Venture Partners also participated in the FleetWorks Series A.