Tow4Tech, a pioneering SaaS-based platform aimed at modernizing the commercial-fleet towing industry, has secured $1.5 million in pre-seed funding. The investment round was led by BrightCap Ventures, an early-stage venture capital firm headquartered in Sofia, Bulgaria, an emerging technology hub in Europe.
With the commercial-fleet towing sector valued at approximately $12 billion, Tow4Tech is focused on streamlining operations by digitizing outdated systems and enhancing efficiency through real-time geolocation and intelligent dispatching.
The fresh funding will allow Tow4Tech to scale its national network of towing providers, improve platform capabilities, and expand its engineering team to drive further innovation.
“Our goal is to revolutionize commercial trucking support by offering a smarter, faster, and more transparent solution,” said Craig Schneider, CEO and Co-Founder of Tow4Tech. “With the backing of BrightCap Ventures, we can accelerate our vision and scale globally with cutting-edge technology.”
Tow4Tech’s platform automates dispatching, tracks operator performance, and simplifies invoicing for quicker turnaround times. A recent pilot program with a leading national fleet manager demonstrated significantly reduced response times for disabled vehicles, resulting in faster recovery and minimized downtime.
BrightCap Ventures’ strategic support extends beyond funding, providing Tow4Tech with access to extensive networks in Silicon Valley and Europe. As part of its expansion plans, Tow4Tech has established a Romanian subsidiary, Tow4Technologies SRL, to serve as its European development hub, tapping into the region’s strong engineering talent for future growth.
“Tow4Tech is bringing much-needed modernization to the commercial fleet towing space by replacing manual dispatching with a seamless digital solution,” said Georgi Mitov, Managing Partner at BrightCap Ventures. “Their expansion into Romania further strengthens their ability to scale and innovate within the industry.”
As Tow4Tech continues to transform roadside assistance for commercial trucking fleets, this investment marks a significant milestone in its mission to enhance speed, efficiency, and transparency within the towing ecosystem.