REPOWR, a logistics-technology platform that brings real-time visibility and access to underutilized transportation equipment announced today that they successfully raised their Series A, which was led by UP.Partners, a leading multi-strategy investment firm focused in the mobility sector. Other investors that also participated in REPOWR’s Series A include Crowley Maritime, Koch Disruptive Technologies, McVestCo VC (venture arm of Trimac), NFI Ventures, Perot Jain and 9Yards Capital.
REPOWR connects logistics companies to seamlessly share non-powered capacity, namely, trailers and chassis. Since REPOWR’s launch in January 2021, fleets have capitalized on the growing opportunity to leverage stagnant trailer pools in order to expand 3rd-party driver networks and eliminate network deficiencies. While monetizing underutilized capacity, fleets are also reducing the environmental impact of ownership. UP.Partners’ investment in REPOWR is strategic and aligns with the firm's mission of transforming the moving world by building and investing in companies that help move people and goods cleaner, faster, safer, and at lower cost - on the ground, in the air, on the sea, and in space. "Trucking is an $870B market with over 13 million vehicles operating on North American roads. However, trailers are habitually underutilized and sit idle a significant percentage of the time. REPOWR's novel marketplace solution helps industry titans optimize their assets by expanding their margins with both revenue-enhancing and cost savings capabilities. We are bullish on Patrick, Spencer, and the rest of the REPOWR team's ability to build a fantastic business while bringing order and efficiency to the market," says Ally Warson, Partner at UP.Partners and REPOWR Board Member.
REPOWR’s Universal Trailer Network brings sustainable solutions to global supply chain networks by optimizing asset utilization. The company has gained significant traction in the domestic, for-hire trucking space and the company believes even greater network effects are coming as greater collaboration occurs among shippers, private fleets, 3PLs, and power-only carriers. Such collaboration is made possible by REPOWR Connect, REPOWR’s interoperable application that facilitates system-to-system asset exchanges across the freight-tech landscape.
The REPOWR platform will usher in new methodologies of trailer management—replacing trailer pooling strategies with trailer network strategies. By working alongside 16 of the top-50 truckload carriers over the last two years, the REPOWR team has learned first-hand that underutilization is a universal problem, and that the industry is more willing than ever to adopt sustainable network solutions.
Within trailer networks, assets are able to free-flow like streams, rather than wastefully sitting idle for most of their lives, as they do in today’s trailer pools. REPOWR’s Chief Operating Officer, Spencer Ware, said the company is set to release an “eye opening” case study, which will summarize many of the company’s early success stories and resulting data points. “We firmly believe trailer networks are the future. By taking more of an ‘access-to- assets’ approach, global supply chains gain the elasticity necessary to adapt to our market’s violent swings,” said Patrick Visintainer, Chief Executive Officer of REPOWR. "The UP.Partners ecosystem and mission align perfectly with REPOWR’s core mission. The investment and strategic partnership will further enhance our network capabilities and help position REPOWR and our customers for an even more connected, elastic and resilient supply chain.”
For more information, please visit up.partners and repowr.com.
*Correction: a prior version of this release erroneously identified ArcBest as an investor in this Series A. ArcBest is considering a Series A investment, but is not currently an investor.
