KeepTruckin has received another infusion of funding to boost its efforts as it continues its “mission to connect the world’s trucks," hot on the heels of its announcement that it's building a digital freight-matching platform.
The San Francisco-based company announced $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.
The company that started out as a provider of electronic logs has vastly expanded its offerings and has big plans to do more. Earlier this month, the company announced it is going to start offering load-matching services, as well as insight into detention time and other conditions at facilities where drivers load and unload.
“Our mission is to connect the world’s trucks and fundamentally improve the safety and efficiency of the trucking industry while helping companies grow,” said Shoaib Makani, CEO and co-founder, KeepTruckin, in a news release announcing the latest funding round. “We believe that if you can model the past, you can predict and even shape the future. 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.”
KeepTruckin will use the funds to fuel the company’s continued growth through hiring exceptional talent, investing in hardware, building partnerships and furthering advancements in machine learning.
Today, KeepTruckin’s fleet management solutions and its partner network address industry challenges such as vehicle and driver compliance, safety, freight tracking, and keeping trucks full and on the road, according to the company. Late last year, it launched the KeepTruckin App Marketplace, which offers customizable integrations that can improve efficiency and productivity.
KeepTruckin has grown substantially in the past year, more than doubling its global headcount 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.
KeepTruckin says in the coming year it will develop new hardware to improve safety, asset management tools to identify inefficiency, and intelligent freight insights to make smarter decisions.