• SmartHop, an online freight matching platform, has raised USD 30 million in a Series B funding round led by Sozo Ventures with participation from Union Square Ventures (USV), RyderVentures, Greycroft, Equal Ventures, Las Olas VC, and The Fund, among others. This brings the company’s total funds raised to just over USD 46 million.

• The company intends to utilize the funds to further enhance its product features such as the fuel card program and its insurance offerings and to expand its team.

• SmartHop wrapped up its year 2021 with more than 15,000 loads booked (a 3.5x increase in available load access YoY) and a total of 14 million miles driven by its partnering carriers and owner-operators. 

<ul><li> Analyst QuickTake: It is noteworthy how online freight platforms—companies with small and large-scale operations alike—are gaining momentum among the investor community. Such recent smaller-scale funding rounds include InstaFreight, Haul, Leaf Logistics, Parade, and Onward Delivery , while startups Loadsmart (raised USD 200 million), project44 (USD 420 million),   Cloud Trucks (USD 115 million), and Flock Freight (USD 215 million) as well as incumbent Uber Freight (USD 500 million) bagged dollars in mega-rounds.</ul>