Class8 Raises $22M Series A to Empower Carriers and Drivers with OEM-Integrated AI Solutions
Class8, rebranded from FleetOps, launches OEM-connected tools for fleets, enhancing the future of transportation.
TORONTO, Nov. 19, 2024 /PRNewswire/ -- Class8, previously recognized as FleetOps, today announced it has secured $22 million in Series A funding, led by Xplorer Capital with new investor Commerce Ventures and returning partners Inspired Capital and Resolute Ventures. This funding will accelerate Class8's mission to redefine trucking by making carriers and drivers the heart of every decision, turning trucks into dynamic, profit-driving assets with Original Equipment Manufacturer (OEM) integrated, AI-powered logistics.
With direct OEM connections, Class8 processes over one billion daily data points from 227,000 trucks, delivering carrier-centric solutions that simplify and empower trucking businesses in an industry marked by constant change. Unlike tech providers that tend to use vehicle data for tracking or management, Class8 is dedicated to unlocking the full value of data for the benefit of carriers themselves.
"Our mission is to put the power back in the hands of carriers and drivers," said Chris Atkinson, CEO of Class8. "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's platform blends OEM data and advanced AI to optimize fleet operations, enhancing each truck's ability to adapt and stay profitable. Key features include:
Dispatch Optimization
Eliminate operational uncertainty with automated dispatch updates powered by OEM data, ensuring that trucks stay moving and operations remain agile.
Load Optimization
Unlock new efficiencies by automating load planning, adapting to market shifts, and maximizing profit through predictive insights drawn from data sources like SONAR.
Class8's tools layer OEM-integrated, freight market, and operational data into daily decision-making that fuels driver retention, optimized load matching, and real-time responsiveness to market shifts. This funding supports Class8's mission to not only simplify but also elevate the trucking industry with solutions that reward carriers and drivers directly for their data and hard work.
"Class8's platform is redefining how carriers and drivers connect to data and opportunity," said Jonathan McQueen, Managing Partner at Xplorer Capital. "Their innovations help trucking businesses navigate complex markets, boosting both profitability and fairness in the industry. We're excited to support Class8 as they continue empowering carriers and advancing the trucking industry."
For more information about Class8 and its OEM-integrated logistics solutions, visit www.class8.com.
About Class8
Class8, formerly FleetOps, is dedicated to empowering carriers and drivers by harnessing OEM-integrated technology to streamline operations, fuel profitability, and unlock the value of data that has historically served only outside interests. Processing over one billion data points daily across 227,000 trucks, Class8 is committed to bringing equity to the industry and supporting carriers as they navigate the challenges of running a modern trucking business.
Media Contact:
Kristen Hoff
978-407-9283
[email protected]
SOURCE Class8
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