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Vector gets $12 million in funding, ramps up for continued growth

Vector gets $12 million in funding, ramps up for continued growth

SAN FRANCISCO — Vector, the mobile-first scanning and workflow management solution for the trucking industry, has closed a $12 million Series A funding round led by Goldcrest Capital with participation by 8VC and Congruent Ventures.

Vector will use the Series A funding to continue to expand its back office document management solutions, enabling fleets to manage higher volumes of freight with fewer resources.

Vector connects trucking fleets and their drivers in real time via the driver’s smartphone — drivers can take a perfect scan of paperwork and send it to the back office in seconds with Vector’s app. Drivers can also get real-time dispatch information about their past, current, and scheduled load pickups and drop-offs.

For the back office, Vector pulls and indexes structured information from documents—like addresses, SKUs, and other information (including bar codes and handwriting) — eliminating manual processing. It integrates with existing systems (like TMS and AS/400) and is highly customizable to specific needs and workflows, enabling real-time visibility and connection across a company’s operations.

“We’re excited to leverage this funding into new product development and customer service support,” said Vector co-founder and CEO Will Chu. “This will enable trucking fleets to move more freight with fewer resources. The Vector platform does that by eliminating paper and automating processes — and enabling real-time communication, document sharing, and visibility across all of a fleet’s operations. We believe that even the most powerful business software can and should be as easy to use as any app on your smartphone, and we’ve built Vector from the ground up with that philosophy.”

Vector is a mobile-first document scanning and workflow management platform built for trucking. The Vector app makes it easy for drivers to take high-quality scans of bills of lading, scale tickets, OS&Ds, and any other type of paperwork. Vector automatically sends each document type to the correct person or department in the back office using OCR and intelligent text extraction.

Vector indexes structured information (including SKUs, bar codes and handwriting) to eliminate manual processing, and can automatically invoice shippers, including the specific documents they require and their billing preferences.

For more information, visit https://withvector.com/overview

 

 

The Trucker News Staff

The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.

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The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
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