Trucker Tools acquired by private equity-backed SaaS company
ASG says its mission is to buy and operate software-as-a-service startup firms.
The digital freight management platform Trucker Tools is planning for a new stage of growth after being acquired today by ASG, a software as a service (SaaS) company owned by a private equity firm.
Walnut Creek, California-based Alpine SG (ASG) says its mission is to buy, build, and operate market-leading vertical SaaS companies. The company was created by San Francisco-based private equity firm Alpine Investors in 2016.
Terms of the deal were not disclosed, but ASG said that tech industry executive Jesse Buckingham will join Trucker Tools as chief revenue officer.
“ASG and Alpine’s access to resources and their deep experience building successful SaaS companies is a tremendous advantage that will further improve our product development, delivery, and platform utility for 3PLs, brokers, and truckers,” Trucker Tools Founder and CEO Prasad Gollapalli said in a release.
This deal marks ASG’s 35th acquisition to date, and the continuation of its investment in the logistics space. The firm’s portfolio also includes e-Courier, which provides software for last mile delivery couriers.
With Reston, Virginia-based Trucker Tools, ASG gains a digital freight management platform that provides capacity management, predictive freight matching, automated booking, real-time GPS-based visibility, and digital workflow solutions for the transportation industry. Nearly 300 freight brokers and third party logistics providers (3PLs) are on the platform today, along with almost 1.4 million truckers and 170,000 small-fleet operators on the mobile booking and tracking app.
Founded in 2013 by Gollapalli, Trucker Tools began as a smartphone-based shipment visibility solution for drivers, owner-operators, small fleets, and their broker partners. It then expanded to address additional driver needs and brought on Murali Yellepeddy as CTO. It has grown further in recent years through steps like building integrations with vehicle rental and leasing giant Ryder System Inc., parking reservation platform vendor TruckPark, and transportation management system (TMS) vendor Teknowlogi.
“Prasad, Murali and team have built the leading tracking and digital freight matching platform for brokered freight,” Buckingham said in a release. “There are many players that are trying to disrupt transportation. What’s special about Trucker Tools is their belief that digital transformation comes from working with the industry, not against it. The trust and deep relationships they’ve earned by operating from this belief sets them apart.”
