Ex-CIA Officer's Trucking Surveillance Startup Lands $60M as Cargo Theft Surges

A startup founded by a former CIA officer just pulled in $60 million to bring intelligence community tactics to one of the most unglamorous corners of the American economy — and Washington is paying attention.

GenLogs, an Arlington, Virginia-based firm that deploys roadside sensors and artificial intelligence to track truck movements across the country, closed its Series B round this week, led by Battery Ventures with participation from IVP, Cathay Innovation and 9Yards. The raise brings the company's total funding to $81 million.

The pitch is straightforward: America's $906 billion trucking industry remains staggeringly fragmented — more than 99 per cent of carriers operate 100 trucks or fewer — and largely analogue in its operations, creating vast blind spots that criminal networks have been quick to exploit. Cargo theft, identity fraud and fictitious carrier schemes have become endemic headaches for shippers and brokers navigating an already punishing freight recession.

GenLogs says it can close those gaps. Its platform cross-references a nationwide sensor network — including port-based cameras, satellites and other data feeds — against carriers' digital footprints to verify legitimate activity and flag anomalies in real time. The company has already assisted federal and state agencies in investigations extending well beyond freight fraud, including cases involving human trafficking and narcotics smuggling

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CEO Ryan Joyce, who co-founded GenLogs in 2023, framed the challenge in characteristically blunt terms, saying the company is applying the US intelligence community's playbook to an industry that badly needs it.

The investment arrives at a precarious moment. With carrier bankruptcies mounting, spot markets volatile and tender volumes running six to seven per cent below year-ago levels, the conditions that enable bad actors — desperation, churn and weak oversight — show no sign of abating.

Battery Ventures' Marcus Ryu will join the GenLogs board