Optimus Technology acquires SmartHop freight platform for carriers
Optimus Technology announced on Monday that it has acquired SmartHop’s load and fleet management platform and will distribute it free to small and midsize carriers through partners reaching over 40,000 weekly active users. Optimus plans to repackage SmartHop as a white-label developer kit that integrates into carriers’ existing apps.
The platform will be offered at no cost to carriers via financial, insurance, and logistics partners that together serve tens of thousands of trucking companies. Data from SmartHop will feed Optimus’ Freight Intelligence Graph, a digital twin of the U.S. freight network that models how disruptions affect freight flows. Optimus’ brokerage product, which uses the same data to suggest shippers to brokers, has generated tens of millions of dollars in new gross revenue for its customers.
“All of that data runs through our pipes and helps build the simulations for the physical economy,” Ed Stockman said.
SmartHop, led by co‑founder and CEO Guillermo Garcia, had raised $16.5 million in a Series A round in February 2021 and had spent tens of millions developing its load and fleet management platform. Optimus had previewed its Freight Intelligence Graph, a digital twin of the U.S. freight network, in August.
What we know
Optimus Technology Inc. has acquired SmartHop’s load and fleet management platform and plans to give it to small and midsize carriers at no cost, the company announced Monday.
Platforms run by those partners see more than 40,000 weekly active users, according to Optimus.
SmartHop, led by co-founder and CEO Guillermo Garcia, had raised $16.5 million through its Series A round in February 2021, FreightWaves reported at the time.
The data goes into the Freight Intelligence Graph, a digital twin of the U.S. freight network that Optimus previewed in August.
Stockman said SmartHop spent tens of millions of dollars developing the software and built “a hell of a product that got great reviews from the carrier community.”