Austin-based Overhaul Raises $4.5 Million in Funding

Transportation logistics in this country is still problematic despite all the new technology on the market.

That’s a market Austin-based Overhaul is tackling. The commercial trucking industry is a $115 billion per year industry and Overhaul aims to overhaul it. The transportation security technology startup creates software for shippers of premium cargo to track their goods.

The company just landed $4.5 million in seed financing from lead investor Abbey International Finance Group, based in Dublin, Ireland. The company plans to use the money for research and development of its software, Sentinel.

Gone are the days of the lone CB radio to track a trucker in route to deliver goods. Today, trucks have smartphones, laptops, tablet computers, wireless Internet connections and goods often have tracking devices or cargo sensors to keep track of them from shipper to customers. But despite all the fleet tracking technology available today such as cargo sensors and telematics, problems occur when that technology can get disconnected. That lack of visibility can cost shippers a lot of money and it can be risky for the drivers. So Overhaul’s software harnesses existing technology, coupled with data analysis and proprietary technology to create a better cargo tracking system, according to a news release.

“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. “We are extremely grateful to have the support of an investor who shares in our vision to digitize the supply chain and will act as partners in the delivery of our robust product roadmap.”

“We are pleased to partner with the team at Overhaul,” John Prosser, Managing Director at Abbey International Finance, said in a news release. “We have a very strong relationship and proven track record in prior ventures with Overhaul’s founder, Barry Conlon, and are committed to supporting Mr. Conlon in realizing the vision for this latest endeavor to become an innovative leader in transportation.”

Overhaul, founded in 2016, has two patents pending on its technology in the U.S. The company began as an online marketplace for shippers to find and book truck drivers. But it has since evolved to provide tracking and security software.

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