Idaho-based Truckstop.com added 160 new employees to the ranks, as part of an acquisition announced this week.
The New Plymouth and Boise-based company said it bought California-based Registry Monitoring Insurance Services. The companies did not disclose the terms of the deal.
RMIS focuses on freight monitoring and software services for the transportation industry.
“By combining our resources and expertise, we will undoubtedly bring even more value to brokers and carriers by simplifying workflow through automation– shortening critical steps to minutes rather than days,” Truckstop CEO Paris Cole said.
“From the start, RMIS has operated with the goal of reducing complexities and streamlining processes for our freight customers,” RMIS president Hayden Landon said. “With this acquisition, it is clear that we are better together in our pursuit of delivering best-in-class products, solutions and services to the market.”
Truckstop said it plans to add RMIS’ existing products into its lineup to help provide solutions for freight industry safety and financial requirements.
Truckstop launched in 1995 in New Plymouth, with a digital freight-matching marketplace, founded and operated by Scott Moscrip. Before the latest acquisition, the company had more than 500 employees and added additional office space in Boise. In 2019, Iconiq Capital purchased the company at a $1 billion valuation and operates it independently.