Buffalo-founded software company will remain headquartered in Western New York as it accelerates national expansion, AI development, hiring and strategic acquisitions.
RoutingBox, a leading software platform purpose-built for non-emergency medical transportation (NEMT), today announced a nearly $30 million growth investment from Phase Line Growth Partners, a growth equity firm focused on B2B software companies.
The transaction establishes a new partnership between Phase Line and Founders Holding Co., the Buffalo-based investment and operating company that built and owned RoutingBox prior to the transaction. Founders will remain an investor in RoutingBox, with Paul Snyder IV continuing to lead the company as CEO.
The investment marks the beginning of RoutingBox’s next phase of growth and provides the company with significant new resources to accelerate its expansion across the United States, advance AI and automation capabilities throughout its platform, expand its team and pursue strategic acquisitions across the NEMT and healthcare transportation technology markets.
As part of that next chapter, RoutingBox will remain headquartered in Western New York, where the company was founded and its technology was built. The company plans to make Buffalo the center of its continued expansion, adding talent across software development, artificial intelligence, product, sales, customer success and corporate functions while continuing to recruit nationally for specialized roles.
“We had an opportunity with this transaction to think carefully about where we wanted to build the next chapter of RoutingBox, and we chose Buffalo,” said Paul Snyder IV, CEO and Co-Founder of RoutingBox and CEO of Founders Holding Co. “This is where the company was created, where we have built an exceptional team and where we believe we can continue building a nationally significant technology company. We intend to compete across the country while continuing to invest, hire and grow here in Western New York.”
From an Internal Solution to a National Software Platform
RoutingBox originated from a portfolio of operating businesses that included several companies in the transportation industry. As an executive responsible for building, acquiring and overseeing businesses across multiple industries, Snyder saw firsthand the technological challenges facing NEMT providers.
The transportation companies within that portfolio operated hundreds of vehicles and required technology capable of managing complex dispatching, routing, driver operations, Medicaid billing and increasingly demanding compliance requirements. Existing software did not adequately address those needs.
Founders Holding Co. initially developed the technology that became RoutingBox to solve those problems within its own portfolio. What began as an internal operating solution ultimately evolved into a standalone software company now supporting transportation activity across more than 40 states.
“RoutingBox started because businesses in our portfolio had a problem we couldn’t solve by buying existing technology,” Snyder said. “We weren’t setting out to start a software company. We were trying to build a better solution to a real operating problem. As the platform developed, it became clear that the challenges we were solving weren’t unique to our businesses. They existed across the industry.”
Today, RoutingBox provides the technology infrastructure NEMT providers use to manage dispatching, routing, drivers, GPS and broker compliance, billing and client coordination. Its product suite includes RoutingBox, its core dispatch and fleet management platform; MedBatch, its Medicaid billing and claims platform; and ClientLink, its web-based portal connecting transportation providers with healthcare organizations and other trip sponsors.
“The opportunity today is much larger than the problem we originally set out to solve,” Snyder continued. “NEMT is becoming more sophisticated, more regulated and more dependent on technology. Our goal is to build the platform that the best transportation organizations in the country choose to run their businesses.”
Technology Is Becoming Mission-Critical Infrastructure for NEMT
NEMT plays a critical role in the Medicaid program by connecting eligible members with healthcare when they lack other reliable transportation. Across the industry, states, managed care organizations and transportation brokers are placing greater emphasis on trip verification, GPS documentation, billing accuracy, program integrity and measurable service performance.
New York has been among the most advanced examples of that transition, requiring transportation providers to transmit detailed GPS data associated with Medicaid trips. Similar verification and technology requirements are increasingly appearing in broker programs and transportation networks elsewhere in the country.
For transportation providers, those changes are making sophisticated technology increasingly important not only to operational efficiency, but also to compliance, reimbursement and participation in major transportation networks.
RoutingBox has spent years building the integrations, workflows and compliance infrastructure required to operate in that environment. Through permissioned integrations with NEMT brokers and other industry partners, the platform today supports transportation activity across more than 40 states and serves hundreds of transportation providers, from growing regional fleets to sophisticated multi-market operators.
“The best vertical software businesses are often born from a real operating problem,” said Todd Fletcher, Co-Founder and Managing Partner of Phase Line Growth Partners. “Paul and his team identified that problem firsthand, built technology to solve it inside their own portfolio and ultimately recognized that they had created something with much broader potential. That combination of operating perspective, software expertise and market knowledge is difficult to replicate.”
“RoutingBox has now reached an important inflection point,” Fletcher continued. “The company has built a deeply embedded platform in a large market that is becoming increasingly dependent on technology. We see an opportunity to combine what Paul and the team have already built with additional capital, talent and operating resources to create the national category leader.”
“RoutingBox has spent years building direct integrations across the NEMT ecosystem and earning the trust of hundreds of transportation providers,” said George Eggers, Co-Founder and Managing Partner of Phase Line Growth Partners. “The platform sits at the intersection of operations, compliance and revenue cycle, making it mission-critical infrastructure for its customers. We believe RoutingBox has an opportunity to become the defining technology platform in this market, and we’re excited to support the team as it pursues that opportunity.”
Investing in AI and the Next Generation of NEMT Technology
A significant focus of RoutingBox’s next phase will be continued investment in product development, artificial intelligence and automation.
The company plans to develop technology designed to automate repetitive administrative tasks, improve dispatching and routing decisions, identify operational and billing issues before they become costly, and enable transportation providers to manage increasingly complex operations with fewer manual processes.
RoutingBox believes these capabilities will be particularly valuable to larger and multi-market transportation providers, where incremental improvements in fleet utilization, staffing, compliance and revenue cycle performance can produce significant financial and operational benefits.
“We believe AI will fundamentally change how transportation companies operate, but the value isn’t in adding AI for the sake of it,” Snyder said. “The opportunity is to eliminate thousands of repetitive decisions and administrative tasks that transportation companies deal with every day. We have years of industry knowledge embedded in our platform. Combining that knowledge with the next generation of AI creates an opportunity to materially improve how these businesses operate.”
The company expects the investment to accelerate both the development of new capabilities and the continued expansion of its core platform as RoutingBox pursues larger and more complex customers nationally.
Choosing Buffalo for the Next Chapter
RoutingBox’s national expansion will continue to be anchored in Western New York, with its headquarters in the Town of Amherst.
The company expects to expand its Buffalo-area team across engineering, artificial intelligence, product, sales, customer success and corporate functions, creating opportunities for experienced technology professionals as well as graduates of Western New York’s colleges and universities.
For RoutingBox, remaining headquartered in Western New York represents a deliberate decision about where the company wants to build its next stage of growth.
“There is no reason a nationally important software company can’t be built in Buffalo,” Snyder said. “Western New York has outstanding universities, a strong business community and talented people who want to build their careers here. What we want to create is the opportunity to work on ambitious technology, serve customers across the country and help build a category-leading company without having to leave Western New York.”
“We now have the capital, the market opportunity and the partner to build something much larger from Buffalo,” Snyder continued. “We want exceptional people in Buffalo and across New York to know we’re building, we’re hiring and we’re just getting started.”
“RoutingBox’s decision to continue building its national headquarters here in Amherst is exactly the kind of economic development we want to see in our community,” said Shawn A. Lavin, Supervisor of the Town of Amherst. “This is a locally built technology company attracting nearly $30 million of investment, creating high-quality jobs and choosing Amherst as the place from which to pursue its next stage of national growth. We are proud to have RoutingBox call Amherst home and look forward to watching the company continue to grow here.”
Building a Broader Technology Platform Through Acquisition
In addition to organic expansion, RoutingBox plans to pursue a programmatic acquisition strategy focused on software businesses that can expand its customer reach, product capabilities and position within the broader NEMT and healthcare transportation technology ecosystem.
The company expects to evaluate opportunities ranging from smaller founder-led software businesses to larger strategic acquisitions. RoutingBox will focus on companies where its capital, customer base, industry relationships and operating infrastructure can help accelerate the next stage of growth.
The strategy is also intended to provide an attractive strategic path for founders and owners of specialized software businesses who are considering the future of their companies.
“We understand what it means to build, acquire and operate businesses for the long term,” Snyder said. “That experience will shape how we approach acquisitions at RoutingBox. We’re not interested in simply aggregating revenue. We want to find great products, talented teams and businesses that have earned the trust of their customers and give them the resources to become part of something larger.”
“For software founders considering what comes next, we want RoutingBox to be a compelling strategic home,” Snyder continued. “We have the capital to transact, but more importantly, we have the platform, operating infrastructure and long-term vision to continue investing in what they built. We want founders to know that there can be an exit path that also creates a meaningful next chapter for their technology, customers and employees.”
For Founders Holding Co., the transaction represents both the realization of the value created in building RoutingBox and a continued investment in the company’s next stage of growth.
“For Founders, this transaction was about finding the right partner for the next stage of a business we spent years building,” Snyder said. “Phase Line understood both what RoutingBox is today and what it has the potential to become. We chose to remain investors because we believe the opportunity ahead is substantial, and we’re excited to continue building the next chapter alongside Phase Line.”
GrowthPoint Technology Partners served as financial advisor and Lippes Mathias served as legal counsel to RoutingBox and Founders Holding Co. Wilson Sonsini Goodrich & Rosati served as legal counsel to Phase Line Growth Partners.
About RoutingBox
RoutingBox is a software platform purpose-built for non-emergency medical transportation. Founded in Buffalo, New York, after its technology was initially developed to solve real-world challenges within a portfolio of transportation businesses, RoutingBox provides transportation companies and healthcare organizations with technology for dispatching, routing, fleet and driver management, GPS and broker compliance, Medicaid billing and claims, and client engagement.
The RoutingBox platform supports transportation activity across more than 40 states and includes RoutingBox, MedBatch and ClientLink. Headquartered in Amherst, New York, RoutingBox is building the technology platform designed to power the next generation of NEMT.
Learn more at routingbox.com.
About Founders Holding Co.
Founders Holding Co. is a Buffalo-based investment and operating company focused on building, acquiring and investing in businesses for long-term growth. Founders developed RoutingBox from an internal technology solution into a standalone software company serving transportation providers nationwide and remains an investor in RoutingBox following the Phase Line transaction.
Learn more at https://foundersholdingcompany.com/
About Phase Line Growth Partners
Phase Line Growth Partners is a growth equity firm that invests in B2B software companies. Through a concentrated partnership model, flexible capital and hands-on operating support, Phase Line helps founders and management teams build durable, market-leading businesses. Founded in 2025, the firm operates from Austin and Kansas City and partners with software companies generating $2 million to $10 million in recurring revenue.
Learn more at phaselinegp.com.
