KeepTruckin,
a leader in fleet management on a mission to connect the world’s trucks,
today announced it secured $149 million in a Series D investment led by
Greenoaks Capital, with participation from existing investors IVP, GV,
Index Ventures and Scale Venture Partners. The latest round brings the
company’s total funding to $228 million. KeepTruckin will use the funds
to fuel the company’s continued growth through hiring exceptional
talent, investing in hardware, building strong partnerships and
furthering advancements in machine
learning.
KeepTruckin powers one of the world’s leading networks of connected
trucks, helping more than 250,000 vehicles and over 50,000 for-hire
carriers run more efficiently, safely, and reliably. KeepTruckin’s fleet
management solutions and its partner network tackle pervasive problems
including vehicle and driver compliance, safety, freight tracking, and
keeping trucks full and on the road. Powerful analytics from this
expansive network bridge the gap between freight data and how to use it
to make accurate decisions.
“Our mission is to connect the world’s trucks and fundamentally improve
the safety and efficiency of the trucking industry while helping
companies grow. We believe that if you can model the past, you can
predict and even shape the future,” said Shoaib Makani, CEO and
co-founder, KeepTruckin. “Our platform unlocks the data that makes this
vision possible. The Greenoaks Capital team along with our existing
investors share our belief that technology will transform trucking.”
“Trucking is forecasted to be a $1 trillion industry by 2024 and is the
backbone of the global economy, yet has been underserved by technology.
But change is coming and KeepTruckin is at the leading edge,” said Neil
Mehta, founder and managing partner, Greenoaks Capital. “KeepTruckin is
building the technology that trucking companies need to compete in the
modern economy. The network that KeepTruckin has built will enable it to
change the way freight is moved on our roads.”
KeepTruckin has grown substantially in the past year, increasing global
headcount by over 2X across seven offices. KeepTruckin
App Marketplace integrations are used by over 130,000 trucks in
fleets of all sizes, offering customers 25 integrations across 10
categories including TMS, navigation, fuel management, and maintenance.
The company’s hardware solutions now include the KeepTruckin
Smart Dashcam and expanded safety
features to identify behaviors associated with critical events and
educate fleets on ways to prevent them from happening. Further
innovations expected from KeepTruckin over the course of the coming year
include new hardware to improve safety, asset management tools to
identify inefficiency, and intelligent freight insights to make smarter
decisions. Visit the KeepTruckin
blog to learn more details on how we plan to innovate using our
Series D investment.
About KeepTruckin
KeepTruckin is the #1 fleet management platform whose robust solutions –
the KeepTruckin
Electronic Logging Device, KeepTruckin
Electronic Logbook App for iOS and Android,
and the KeepTruckin
Smart Dashcam – seamlessly connect vehicles, drivers, and fleet
managers. The
KeepTruckin App Marketplace offers customers a catalog of
customizable integrations that can improve operational efficiencies and
increase productivity to save fleets money. KeepTruckin is trusted by
over 50,000 for hire carriers and over 250,000 vehicles to make them
more efficient, safe, smart and reliable. The #1 rating comes from our
Google Play Store reviews. To learn more about KeepTruckin visit KeepTruckin.com.
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