FoxPoint Trucks Launched
Recognizing the opportunity in the large, underserved industry, the company combined cutting-edge technology and asset management with specialty finance. This approach created a platform that compliments carriers moving to an asset-light model.
FoxPoint Trucks officially entered class 8 truck leasing for the first time, starting with just four employees sitting around a conference room table.
Our fin-tech concept was proven to be successful. We added our first professional talent, Chief Financial Officer Laura Stack.
Many of our functions are the best-in-class, off-the-shelf software packages, but we noticed that they didn’t integrate with each other. To solve this issue and scale efficiently, we internally developed our ERP system, which connects all disparate systems and provides one version of the truth.
After expanding our software footprint, we needed additional space and moved to a larger office.
Josh Krause joined Foxpoint as the Vice President of Sales & Marketing to align our internal and external messaging.
With proof of concept in hand, we raised our first round of financing through Crestline with an initial investment of $60 million to continue scaling our solutions.
Jeff Dema came on as company President to help scale and grow FoxPoint Trucks.
Jeff Dema transitioned from President to Chief Executive Officer. We proudly reached 1000 leases while successfully making adjustments during the COVID pandemic.
Through successful growth initiatives, we received our second round of financing through Gordan Brothers for $85 million.
After identifying new pain points in the logistics industry, we transitioned to a more extensive mergers and acquisitions focus. With this in mind, we decided to change our name from Foxpoint Trucks, to Foxpoint to simplify our name and broaden the solutions we can offer.