DriverReach Secures $7.5M in Series A Funding From Fulcrum Equity Partners
The infusion of capital will allow DriverReach to expand across all areas of the business, ultimately driving forward its mission to improve driver recruitment and retention.
INDIANAPOLIS, Jan. 13, 2022 /PRNewswire-PRWeb/ -- DriverReach, a recruiting and compliance management system founded in 2016 by Founder and CEO, Jeremy Reymer, announced this morning that it has closed a Series A round of funding led by Fulcrum Equity Partners, an Atlanta-based growth equity fund. The round includes participation from growth equity studio CreativeCo Capital, which adds significant logistics experience.
The funds will primarily be allocated to research and product development of DriverReach's software platform as the company seeks to expand its offering to enable more robust compliance and reporting functionality and more integration capabilities with job boards and other lead generation partners. Additionally, the company plans to add approximately 60 individuals over the next 3 years to its remote workforce. A major hiring focus will be on bolstering its sales and marketing efforts, adding to the existing leadership, and expanding the product development department.
Scott Dorfman, Fulcrum Equity Partner, commented, "We are seeing massive growth in transportation, logistics, and trucking due to the explosion of eCommerce. This means our investment in DriverReach is an opportunity to help fill the driver pipeline. A better applicant experience will streamline the process of qualifying drivers and dramatically improve speed-to-hire. This increased demand for drivers means logistics companies must be able to recruit, onboard, and manage drivers via non-traditional avenues."
"Better recruiting begins with a better applicant experience," explained Jeremy Reymer, DriverReach Founder and CEO. "It's critical to consider the process from the driver's perspective and ensure it's as efficient and streamlined as possible. That's one of the reasons DriverReach is tremendously excited to partner with our investors as we scale both our product offering and company culture. Fulcrum's support, deep software roots, and operating experience will help us execute our mission to empower the change-makers of the trucking industry to leave behind 'the way we've always done it' and leverage technology to make driver recruiting so much better."
To learn more DriverReach careers, visit: https://www.driverreach.com/careers
About DriverReach
DriverReach's modern recruiting and compliance management system provides a better applicant experience and dramatically improves speed-to-hire. A mobile-first DOT application experience feeds directly into a full-service ATS with email and text functionality, streamlining the process of qualifying drivers so companies can Hire. Better. Faster.
As an American Trucking Association Corporate Partner, DriverReach is dedicated to improving the hiring process for drivers and carriers alike. Listen to or watch the Taking the Hire Road podcast, hosted by Jeremy Reymer and in collaboration with FreightWaves, for timely conversations with industry experts. For more information, or to request a test drive, visit driverreach.com.
About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm that manages over $600 million and provides expansion capital to rapidly growing companies led by strong entrepreneurs and management teams. Fulcrum targets companies within healthcare services, healthcare IT, B2B software, and technology-enabled services. Fulcrum's initial target investment is $5 million - $25 million to provide financing to meet a wide range of needs, including internal growth initiatives, acquisitions, divestitures, shareholder liquidity, and recapitalizations. The partners have over 140 years of relevant experience in Fulcrum's target markets, including significant operating experience in senior executive positions at companies that grew rapidly and enjoyed successful exits. Additionally, Fulcrum's limited partners include over 100 current or former business owners/CEOs of leading companies in a wide variety of industries that provide a rich resource for the firm and portfolio companies. Learn more at http://www.fulcrumep.com.
Media Contact
Teresa Weirich, DriverReach, +1 (317) 730-6105, [email protected]
SOURCE DriverReach
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