Birmingham, Ala. – REPOWR announced March 15 it closed a $4.2 million Seed round.
The round was led by Koch Disruptive Technologies (KDT), the growth and venture arm of Koch Industries, Inc., with participation from Perot Jain Alliance, Plug and Play Venture Group, and several strategic angel investors.
The transportation equipment market has virtually dissipated over the last two years and fleets of all sizes are desperate for additional equipment, specifically trailers. The REPOWR marketplace allows users to book underutilized trucks and trailers within minutes.
“The amount of underutilized trailers in the supply chain is just mind-blowing and we recognized the opportunity and need to address this problem, which has ramifications across the entire supply chain,” Patrick Visintainer, CEO of REPOWR, said. “Our job at REPOWR is to bring visibility and value to this ‘invisible trailer capacity’ so the assets keep generating revenue for owners and borrowers. These are valuable assets that all fleets – but especially smaller fleets – need, so we set out to introduce a network marketplace with book-it-now capabilities.”