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KeepTruckin raises Series D investment to build the future of freight

KeepTruckin raises Series D investment to build the future of freight


At KeepTruckin we have a fundamental belief that connectivity can improve the lives of drivers and make the trucking industry safer and more efficient. To accelerate our shared mission, I am proud to announce that KeepTruckin has raised an additional $149 million in Series D funding, led by Greenoaks Capital, with participation from existing investors GV, Index Ventures, IVP, and Scale Venture Partners.

2018 was a year of incredible growth for KeepTruckin. We expanded our team to more than 1,000 employees across seven global offices, grew our revenue by 300%, launched our Smart Dashcam, and opened up our platform to third-party developers with the new App Marketplace.

But there is still much work to be done. With this additional capital we’ll focus on three key areas:

1. Build the fleet management platform of the future

We believe every fleet should have an integrated view of their operations that spans their drivers, trucks, and trailers. That is why we’re doubling down on video safety and asset management. In the coming months, we’ll launch our dual-facing Smart Dashcam with enhanced driver coaching capabilities to promote safer driving and prevent collisions. To help fleets manage their assets beyond the truck, we’ll introduce our new Trailer Gateway and intelligent geofencing capabilities.

2. Help our customers grow their businesses

When we ask our customers what else we can do for them, the number one response is to help them grow. With more than 250,000 vehicles and 50,000 for-hire carriers using KeepTruckin ELDs, the information that allows for more intelligent freight matching is now available. The KeepTruckin Smart Load Board will bring together those who need capacity with those who need loads, helping our customers grow and optimize their businesses. Our new Facility Insights tool will allow carriers to make informed decisions about the shippers they work with.

3. Invest in our people

As our network of trucks has grown over the past five years, so has our opportunity set. To realize our potential, we’ll remain consistently focused on what has made us successful in the past, and what will make us successful in the future — our people. We will expand our team to more than 2,000 employees over the next 18 months and open multiple new offices in North America.

The road forward

We are honored to serve our customers and this industry. On behalf of the entire KeepTruckin team, I want to thank our customers and partners for giving us the opportunity to help solve your problems. We would not be here without your support and trust.

Thank you.

Shoaib

Author


Shoaib Makani

Shoaib Makani is KeepTruckin's co-founder and CEO. Shoaib has extensive experience in entrepreneurship and venture capital and guides the overall business strategy. Prior to founding KeepTruckin, Shoaib worked at Khosla Venture, where he led investments in consumer and enterprise technology companies including Instacart, Everlane, Yammer, and HackerRank. Prior to joining Khosla Ventures, Shoaib led business development for Google's mobile advertising business in Asia and Latin America. He holds a BSc in Economics from The London School of Economics.