Boon, a San Francisco, CA-based provider of an AI-powered workflow platform for commercial fleets, has secured $20.5 million in funding.
The funding comprises $15.5 million in Series A and a previously undisclosed $5 million seed round.
Investors
Marathon and Redpoint Ventures led the Series A round, which was also part of the earlier seed round.
Marathon is a venture capital firm focused on investing in founders who are dedicated to defining their industries.
Redpoint Ventures invests in startups across all stages, from seed to growth. With over 465 backed companies and 140 IPOs or acquisitions, Redpoint manages $4 billion across multiple funds. The firm operates from Menlo Park, with offices in San Francisco, Beijing, and Shanghai.
Boon Use of Funds
The funding will enable Boon to expand its engineering and go-to-market (GTM) teams over the next 18 months.
About Boon
Founded by Deepti Yenireddy, Boon provides an AI-powered workflow platform tailored for commercial fleets in the supply chain and logistics industry. Its platform integrates with logistics systems like TMS, ERP, and ELD, streamlining tasks such as order entry, compliance, and fuel optimization. Boon currently supports 33,000 drivers across 6,800 vehicles, delivering 170,000 loads. The company serves diverse industries, including transportation, food and beverage, field services, and construction.
Funding Details
Company: Boon Technologies, Inc.
Raised: $20.5M
Rounds: Series A, Seed
Funding Month: December 2024
Lead Investors: Marathon, Redpoint Ventures
Company Website: https://www.getboon.ai/
Software Category: Fleet Management
Source: https://www.prweb.com/releases/boon-secures-20-5m-in-funding-and-launches-ai-workflow-platform-to-double-efficiency-and-profitability-for-commercial-fleets-302336669.html