Next Trucking, a US-based online trucking services marketplace operator backed by real estate developer JF Shea, raised $21m on Tuesday in a series B round led by venture capital firm Sequoia Capital.
Founded in 2015, Next has created an online platform that uses an algorithm to connect shippers with goods to deliver and truckers who have spare space in their vehicles, according to factors like routes, pricing and even driver behaviour.
Shippers can monitor their goods using a dashboard that lists the timelines, routes, costs and location of every delivery they have booked. The platform is however focused toward truckers, who indicate their availability and preferences before shippers make contact.
Sequoia Capital partner Omar Hamoui will join the company’s board of directors in connection with the round, which follows $5m of series A funding in March 2017 from JF Shea’s Shea Ventures unit, China Equity Group and angel investors including Simon Nixon.
Next had raised a total of approximately $6m before securing the series B funding, according to Forbes.