CORAL SPRINGS, Fla., April 30, 2025 (GLOBE NEWSWIRE) — Tow4Tech, an innovative SaaS-based platform revolutionizing the $12 billion commercial-fleet towing industry, today announced it has raised $1.5 million in pre-seed funding. The round was led by BrightCap Ventures, an early-stage venture capital firm based in Sofia, Bulgaria, an increasingly prominent European hub for technology. The investment will enable Tow4Tech to deliver faster, more reliable towing and roadside assistance for trucking fleets by expanding its national network of heavy and medium towing providers, enhancing platform capabilities, and growing its engineering team to support continued innovation.
By eliminating outdated processes and digitizing operations, Tow4Tech is modernizing the legacy infrastructure that still dominates commercial fleet towing. Its national platform leverages real-time geolocation and intelligent dispatching to seamlessly connect commercial trucking companies and fleet operators with heavy-duty tow and roadside providers. The system tracks operator performance, dispatches jobs instantly, manages them end-to-end, and automates invoicing for faster turnaround. Replacing ineffective manual dispatching with a real-time, data-driven approach, Tow4Tech ensures the fastest, most efficient provider is selected, streamlining the entire process. During a pilot program with a top national fleet manager, results demonstrated a substantial reduction in response times to disabled vehicles, as well as a faster return-to-road time.
“At Tow4Tech, we’ve created a smarter, faster, and more transparent solution for commercial trucking companies and fleet managers by automating processes, saving time, and collecting valuable data,” said Craig Schneider, CEO and Co-Founder of Tow4Tech. “This round, led by BrightCap Ventures, will enable us to drive innovation with a partner committed to backing globally scalable and game-changing technologies.”
BrightCap Ventures’ extensive network across Silicon Valley and Europe will play a key role in accelerating Tow4Tech’s growth. As part of this strategic partnership, Tow4Tech has also established a Romanian subsidiary, Tow4Technologies SRL, which will serve as its European development center and a hub for future expansion across the region.
“Tow4Tech is redefining how roadside assistance works for commercial fleets by bringing a level of speed, transparency, and efficiency to a fragmented, manual-heavy process,” said Georgi Mitov, Managing Partner at BrightCap Ventures. “By replacing the outdated pen-and-paper, phone-based dispatch model with a fully digital platform, they’re creating real operational value for both fleets and tow providers. Their team expansion into Romania further strengthens their ability to scale globally, tapping into our region’s exceptional engineering talent and setting the stage for European growth.”
About Tow4Tech:
Tow4Tech was founded in 2024 and based in South Florida, is an innovative SaaS platform revolutionizing the $12 billion commercial-fleet towing industry. By leveraging real-time geolocation, Tow4Tech seamlessly connects fleet managers with top-tier tow operators, optimizing dispatching and significantly reducing downtime. With round-the-clock customer support, Tow4Tech drives operational efficiency for both fleet managers and service providers, ensuring a faster, more reliable towing experience. Visit tow4tech.com, follow them on LinkedIn and Facebook, and schedule a demo to experience their innovative platform firsthand.
About BrightCap Ventures:
Founded in 2018 and headquartered in Sofia, Bulgaria, BrightCap Ventures is an early-stage venture capital firm that invests in companies with proprietary technology and strong global growth potential. The firm partners with visionary founders who leverage local engineering talent, providing them with entrepreneurial expertise and access to a vast network across Silicon Valley, Europe, and beyond. BrightCap Ventures’ diverse team, with experience in leadership, engineering, and investment, helps portfolio companies accelerate product development, improve quality, and scale globally. Visit brightcap.vc and follow them on LinkedIn.
CONTACT:
Lisa Hagendorf
Centerpiece Public Relations
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b1aecf6-1bf0-43ad-afd9-c90f86862beb
