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KeepTruckin raises $ 190 million in new funding

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KeepTruckin raises $ 190 million in new funding

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Investments in advanced products powered by artificial intelligence and world-class talent drive the company’s 70% annualized growth

SAN FRANCISCO – KeepTruckin, a leader in fleet management technology, announced today that it has raised $ 190 million in new funding from G2 Venture Partners, Index Ventures, Greenoaks, IVP, Scale Venture Partners, funds managed by BlackRock and several other leading investors. Round values ​​keep Truckin ‘at over $ 2 billion. The new capital will support KeepTruckin’s strategic priorities by allowing it to continue to build innovative products powered by artificial intelligence, recruiting top-tier talent, and rapidly scaling to meet the needs of companies driving the physical economy.

ONLY IN: KeepTruckin Raises $ 190 Million in New Capital! Investments in advanced products powered by artificial intelligence and world-class talent drive the company’s 70% year-over-year growth. READ MORE: https://bit.ly/3iSSo2B #funding #artificialintelligence #hiring

KeepTruckin’s network of 400,000 connected vehicles is one of the largest in North America. The company equips clients with cutting-edge hardware and software that leverages the latest advancements in artificial intelligence and computer vision to solve a wide range of problems for businesses, including those based on video. driver safety, GPS tracking, ELD compliance, vehicle maintenance and fuel consumption management. Key factors contributing to KeepTruckin’s 70% annualized growth since the onset of the pandemic are its rapid expansion into new market segments, such as building, oil and gas, food and beverage, field services, moving and warehousing, and agriculture, and the pandemic-accelerated digital transformation within these industries.

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“Today, more than 90,000 businesses and one million drivers rely on our technology to improve the safety and efficiency of their operations,” said Shoaib Makani, CEO of KeepTruckin. “Over the past year, our customers increased their fleets by 21% and, with our E Series financing, we are now well positioned to grow alongside them by investing in talent and technology to better serve all the companies that drive the economy. physical. ”

“One of the many reasons we are excited to partner with KeepTruckin includes the people behind the technology, especially the management team that runs the business with a clear vision to fundamentally improve the safety and sustainability of commercial vehicles through of novel hardware and software. We know a tipping point is approaching in this industry – the proliferation of AI-powered cameras in all commercial vehicles – and KeepTruckin has the highest quality equipment and products to lead the field. The opportunities for KeepTruckin are endless, and we can’t wait to see what the company cracks the code for next, ”said Zach Barasz, Partner at G2 Venture Partners.

The United States has seen an impressive 50% year-over-year increase in the number of truck registrations since March 2020, due in large part to the unprecedented growth of e-commerce and the shift in consumer spending. Heavy truck orders rose in the same period to a record 50,000 in March 2021. These fleet operators frequently turn to smart safety platforms to take an even more proactive approach to implementing safety measures and reducing costs. operational. Usher Transport, a long-time leader in the transportation industry, credits this proactive approach by seeing a 32% annual reduction in accidents, thanks to KeepTruckin’s Smart Dashcam, DRIVE risk score, and Safety Center. With cargo demand at an all-time high, KeepTruckin will continue to support industry growth as companies increasingly choose to invest in high-quality technology that helps them protect their drivers, better serve their customers. and increase your profits.

To learn more about KeepTruckin and this funding round, visit: KeepTruckin.com and the KeepTruckin Blog.

Recent Company Highlights:
KeepTruckin Launches New AI-Powered Fuel Center to Help Fleets Save Up to 10% on Fuel Costs

JB Hunt and KeepTruckin Announce Technology Integration for JB Hunt 360 and Smart Charging Board

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KeepTruckin’s Commitment to Diversity: Base10 Partner Advancement Initiative

About KeepTruckin:

KeepTruckin is the leader in fleet management technology. KeepTruckin’s cutting-edge hardware and cloud-based software help companies improve the security and efficiency of their operations. With a platform that extends video-based driver safety, Electronic Recording Device (ELD) Compliance, GPS tracking, Shipping, Y fuel and maintenance, KeepTruckin provides an integrated fleet management system that scales to meet the needs of more than a million drivers and 90,000 customers, from small trucking companies to Fortune 500 companies.

Founded in 2013, KeepTruckin has more than 2,000 employees and has raised $ 417 million from GV (formerly Google Ventures), Index Ventures, IVP, Scale Venture Partners, Greenoaks, G2 Venture Partners, and other leading investors. For more information on KeepTruckin, visit: KeepTruckin.com.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20210617005577/en/

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Contacts:

KeepTruckin Media Contact:
Rebeccah propp
rebeccah.propp@keeptruckin.com

#distro

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