Evaluating only Turvo’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: Competition.
Key Events Timeline
FOUNDING
Eric Gilmore founded Turvo in San Mateo to build a collaborative TMS and supply chain visibility platform.
FUNDING
Raised Series B with C.H. Robinson Ventures participating as strategic investor seeking tech differentiation.
PIVOT
Pivoted to focus on collaborative freight networks after core TMS traction failed to meet growth targets.
SHUTDOWN
Executed silent shutdown and customer transfers after runway expired with ARR below $5M.
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Documented cause
Turvo raised over $30M for its collaborative supply chain visibility platform, attracting investment from Dragoneer and C.H. Robinson Ventures. However, the company struggled to differentiate from incumbent TMS providers like MercuryGate and McLeod. Annual recurring revenue remained below $5M after six years. In 2022, with runway expiring and no viable acquisition offer materializing, Turvo executed a silent shutdown and transferred remaining customers to partner platforms.
Lesson
“Visibility platforms must integrate into existing TMS workflows on day one or face perpetual pilot purgatory.”