GenLogs Announces $60M Series B Funding

GenLogs announced it has closed $60 million in Series B funding. The round was led by Battery Ventures with participation by IVP, Cathay Innovation and 9Yards as well as existing investors Venrock, Steel Atlas, HOF Capital, TitletownTech and Autotech Ventures. The company previously raised $21 million in Seed and Series A funding. The company will use the new funds to continue building out its core platform, which is powered by its privacy-enabled network of roadside sensors, and extend capabilities to shippers, insurers, governments and financial institutions. Current customers include Fortune 500 companies across these sectors, including J.B. Hunt, Werner Enterprises, AIPSO and Jacksonville Port Authority. Chief Executive Officer Ryan Joyce, a veteran former CIA officer who co-founded GenLogs in 2023, said the trillion-dollar trucking industry links every sector of the economy but is highly fragmented in its composition and still analog in its operations. He said GenLogs is applying many aspects of the U.S. intelligence community's playbook to drive total visibility in the trucking industry, resulting in more efficiency, better pricing and protection against fraud and cargo theft. Marcus Ryu, general partner at Battery Ventures who will join the board of directors, said in a remarkably short time GenLogs has developed a novel data set of great commercial and prosocial value.