It would be hard to overlook Austin's transportation and supply chain technology sector these days. Mature startups like uShip and fast-growing ones like Dropoff and Convey have helped put the city on the delivery logistics map.
Now you can add Overhaul, a freight security software startup, to the list of local transportation tech companies.
Overhaul announced Thursday it has closed a $4.5 million seed round. The investment was led by Abbey International Finance Group, a Dublin-based leasing, insurance and investment company with offices in Austin.
Overhaul launched in 2016 with its trucker app, which showed nearby truck stops, trip planning and other trucker-specific features. Then, this summer, it announced a suite of risk management tools for freight carriers, brokers and shippers.
In August, Overhaul launched an update to its platform that monitors and analyzes data on GPS location of shipments, temperature controls and other factors. The patent-pending platform alerts users about potential problems and non-compliance in real-time.
The company also launched a new product called Law Enforcement Connect to help police and other authorities see data on cargo theft incidents that are in progress by transferring shipment data directly to law enforcement investigating an incident.
Overhaul plans to use its seed funding to improve its risk management software, Sentinel, which provides visibility and analytics on shipments.
“Overhaul is committed to bringing an intelligent software system that automatically integrates disparate data streams into a single unified view allowing shippers the ability to analyze and respond appropriately to prevent or address risky situations as they occur,” Barry Conlon, CEO and co-founder of Overhaul, said in a news release.
Conlon is the former CEO of Austin-based FreightWatch International, a global supply chain security company that was acquired by Boston-based Sensitech Inc. in 2012 for an undisclosed price. Fellow Overhaul Co-Founder Robert Clarke is a former Dell executive and president of RGC Enterprises Inc., according to his LinkedIn profile.
The company is among several to emerge in the space in recent years, and investors have been hungry. Last year, New York-based Transfix landed a $22 million Series B found at a valuation of more than $75 million, according to the Wall Street Journal. Seattle-based Convoy and San Francisco-based Trucker Path Inc. are also among new players in the transportation and logistics field.
