Auto Hauler Exchange announced a major financial boost.

The digital vehicle transportation marketplace has raised $5 million in a Series A funding round led by MHS Capital.

The company said it plans to use the new capital to scale its operations, expand its team and enhance technology for its platform, which directly connects vehicle haulers with vehicle shippers.

“This investment will allow us to accelerate the development of our platform and significantly grow our network of carriers and shippers,” founder and CEO Royce Neubauer said. “We’re focused on providing a seamless experience for all users, making vehicle transport easier, faster and more cost-effective.

“Our mission is to revolutionize the finished vehicle industry, beginning with auto transport, and this funding is a major step toward realizing that vision.”

Auto Hauler Exchange said it aims to remove the middleman in vehicle logistics. It currently has more than 5,000 carriers in its network, with more than 350 shippers actively using the platform to move vehicles.

Its platform is designed to offer a streamlined process for shippers to find reliable carriers while helping carriers optimize their routes and maximize their trailer capacity to reduce inefficiencies.

MHS Capital, a growth-focused venture firm, cited AHX’s growth potential as its motivation for leading the funding round.

“Auto Hauler Exchange is redefining the way the vehicle transport industry operates by leveraging technology to create a more efficient and transparent marketplace,” MHS Capital partner Vijay Nagappan said. “We are excited to support Royce and his team as they scale and continue to innovate in this vital industry.”

Golden Ventures, which led Auto Hauler Exchange’s seed round, also invested in the Series A funding.

“We’ve always believed in Auto Hauler Exchange’s potential to transform the vehicle logistics industry,” Golden Ventures venture partner Bert Amato said. “Their ability to streamline and innovate within a traditionally fragmented market is impressive. With this Series A funding, we’re excited to continue supporting their journey as they scale and redefine vehicle logistics for the future.”