During the holidays, logistics are crucial. Businesses that can close deals and deliver people and goods to their destinations on time thrive during this time of year.
However, there is a great deal of inefficiency and fragmentation underlying that need. Are logistics companies prepared to use AI to improve the way they operate? Boon, a startup, believes the answer is yes. It has now raised $20.5 million to demonstrate this by providing a platform that enables companies to better utilize data from many applications to enhance their planning, operations, and general efficiency.
Deepti Yenireddy, the company’s founder and CEO, said in an interview.
“Think of Boon as the second employee in the back office,”
“Our AI agent is like another teammate doing critical work so that people can focus on tasks that actually make them more money.”
The money comes from Marathon and Redpoint, who committed $15.5 million in a Series A and an unidentified $5 million seed.
According to data from Berg Insight, the vast majority of companies that utilize fleet vehicles are classified as SMEs, and there are over 60 million fleet vehicles globally that are used only as goods transporters.
But the instruments they use are evenly distributed: human resources, sales, routing, and accounting. A logistics or fleet company typically employs 15 to 20 different apps and software programs, all of which run in silos encircled by piles of paper records.
“First-generation point solution software tools have added a heavy administrative load” to fleet management organizations, according to Urvashi Barooah, a partner at Redpoint Ventures who led the investment.
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