Toro TMS Announces Series B Funding

Toro TMS, a leading software provider for the trucking industry, announced it has completed its Series B financing, bringing total funding raised to nearly $50 million.

Toro TMS was incubated at the Investment Group of Santa Barbara (IGSB) and is backed by a long-standing group of financing partners including IGSB, Partners Fund, Altos Ventures, and Waybury Capital. Like prior financings, the Series B round was oversubscribed by existing investors and Toro did not seek outside capital.

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About Toro

Founded in 2020, Toro TMS is a software platform purpose-built to power American trucking. Toro combines modern technology with old-school, in-person service and partnership—getting carriers live in days, not months or years. From order management, planning and dispatch to invoicing, driver pay and financial reporting, Toro helps trucking companies streamline operations, grow revenue, and deliver outstanding experiences for both customers and drivers.

Headquartered in Chicago with team members across all four U.S. time zones, Toro helps American trucking businesses go farther and move what matters. Learn more at torotms.com.