Boon Raises $20.5 Million to Grow AI-Powered Platform for Fleets

Boon announced $20.5 million in combined seed and Series A funding to build an artificial intelligence (AI) platform for commercial fleets.

“With $20.5M raised, we are expanding capabilities to deliver new features, optimizing for current clients, and building out our engineering and go-to-market teams,” Boon said in a blog post. “Over the next 18 months, we plan to triple in size.”

Boon’s solution enables fleets to connect all their systems and automate data entry, dispatch and load sources, according to its website.

It offers an AI-powered agentic platform that is purpose-built for the logistics industry and helps fleet operators, dispatchers and drivers to focus on other tasks, per the post.

Dozens of fleets are currently using the platform, the post said.

“We have models built to train on vertical, company-specific data so the agent can perform actions specific to them,” the post said. “For every four drivers, there is one back-office staff member. Boon is now the second team member — but automated.”

Boon’s $15.5 million Series A and previously undisclosed $5 million seed were backed by Marathon and Redpoint Ventures, TechCrunch reported Thursday (Dec. 19).

“Congrats to Deepti Yenireddy and the Boon team on their $20.5M Seed + Series A funding,” Redpoint said in a Thursday post on LinkedIn. “Their AI workflow platform is redefining the supply chain and logistics industry — can’t wait to see them transform fleet operations and automate manual tasks off the table!”

Marathon said in a Thursday post on X: “The team at @getboon brings domain expertise with a native AI stack to one of the most fragmented markets in software.”

Agentic AI can conduct business operations from start to finish without the need for human intervention, PYMNTS reported in February. For example, agentic programs will be able to attach a file to an email and send it, rather than just creating the text of the email or retrieving the file to be attached.

Boon is offering its solution at a time when next-generation technology is modernizing the historically fragmented shipping and freight industry. New tools and platforms that can streamline and digitize shipping and logistics processes are gaining ground in the sector, PYMNTS reported in June 2023.

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