About Turvo
Turvo is a company based in San Mateo (United States) founded in 2014 was acquired by Bay Grove in June 2022.. Turvo has raised $85 million across 2 funding rounds from investors including Lineage, Mubadala and Activant Capital. The company has 197 employees as of April 05, 2024. Turvo has completed 1 acquisition, including ODYN. Turvo offers products and services including Turvo TMS, Collaboration Cloud, Driver App, and Analytics Tools. Turvo operates in a competitive market with competitors including Slync, Veratrak, Pando, SemiCab and LogShare, among others.
- Headquarter San Mateo, United States
- Employees 197 as on 05 Apr, 2024
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Sectors
Transportation, Automotive & Logistics
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Email
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Phone
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Website
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Social
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- Legal Name Turvo India Private Limited
- Date of Incorporation 03 Feb, 2015
- Jurisdiction Hyderabad, Telangana, India
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Annual Revenue
$11.14 M (USD)14.37as on Mar 31, 2023
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Net Profit
$1.1 M (USD)8.21as on Mar 31, 2023
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EBITDA
$1.6 M (USD)13.13as on Mar 31, 2023
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Total Equity Funding
$85 M (USD)
in 2 rounds
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Latest Funding Round
$60 M (USD), Series B
Nov 08, 2018
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Investors
Lineage
& 13 more
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Employee Count
197
as on Apr 05, 2024
- Investments & Acquisitions
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Acquired by
Bay Grove
(Jun 01, 2022)
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Products & Services of Turvo
Turvo offers a comprehensive portfolio of products and services, including Turvo TMS, Collaboration Cloud, Driver App, and Analytics Tools. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Software for automating logistics and shipment processes
Platform for real-time stakeholder communication and data sharing
App for drivers to track deliveries and gain visibility
Tools for insights into supply chain operations and efficiency
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Software Development Team
36 people
Product Management Team
9 people
Human Resources and Administration
3 people
Leadership Team
3 people
Data Analysis and Operations Team
2 people
Creative and Marketing Team
2 people
Lead Team
1 people
Infrastructure Team
1 people
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Funding Insights of Turvo
Turvo has successfully raised a total of $85M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $60 million completed in November 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series B — $60.0M
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First Round
First Round
(28 Mar 2017)
- Investors Count 12
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2018 | Amount | Series B - Turvo | Valuation | Mubadala | |
| Mar, 2017 | Amount | Series A - Turvo | Valuation | Activant Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Turvo
Turvo has secured backing from 14 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Lineage, Mubadala and Activant Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital fund investing in tech sectors
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Founded Year | Domain | Location | |
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Investments in technology startups are made by Felicis Ventures.
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Founded Year | Domain | Location | |
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US focused seed-stage VC investment company
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Turvo
Turvo has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include ODYN. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Shipments are tracked and monitored using AI-enabled connected tiles.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Turvo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Turvo Comparisons
Competitors of Turvo
Turvo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Slync, Veratrak, Pando, SemiCab and LogShare, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Offers AI & blockchain-enabled solutions for supply chain visibility and traceability
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| domain | founded_year | HQ Location |
Supply chain software is offered for pharmaceutical logistics and compliance.
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| domain | founded_year | HQ Location |
Freight transportation is managed through AI and web-based systems.
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| domain | founded_year | HQ Location |
Provider of Cloud, IoT, and AI-based marketplace for long-haul freight transportation services
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| domain | founded_year | HQ Location |
Logistics collaboration is enabled through supplier integration for freight.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Turvo
Frequently Asked Questions about Turvo
When was Turvo founded?
Turvo was founded in 2014 and raised its 1st funding round 3 years after it was founded.
Where is Turvo located?
Turvo is headquartered in San Mateo, United States. It is registered at San Mateo, California, United States.
Who is the current CEO of Turvo?
Billy Sarracino is the current CEO of Turvo.
Is Turvo a funded company?
Turvo is a funded company, having raised a total of $85M across 2 funding rounds to date. The company's 1st funding round was a Series A of $25M, raised on Mar 28, 2017.
How many employees does Turvo have?
As of Apr 05, 2024, the latest employee count at Turvo is 197.
What is the annual revenue of Turvo?
Annual revenue of Turvo is $11.14M as on Mar 31, 2023.
What does Turvo do?
Founded in 2014 and headquartered in San Mateo, United States, Turvo operates in the logistics and supply chain sector. A cloud-based platform integrated with AI and IoT is offered to connect partners such as shippers, carriers, and brokers. Automation is applied to order processing, carrier-shipment matching, resource allocation, ERP integrations, shipment tracking, and stakeholder information access across the network.
What products or services does Turvo offer?
Turvo offers Turvo TMS, Collaboration Cloud, Driver App, and Analytics Tools.
How many acquisitions has Turvo made?
Turvo has made 1 acquisition, including ODYN.
Who are Turvo's investors?
Turvo has 14 investors. Key investors include Lineage, Mubadala, Activant Capital, Felicis Ventures, and Upside Partnership.
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