US-based fleet management technology provider KeepTruckin received $149m in series D funding yesterday from investors including GV, a corporate venture capital subsidiary of internet and technology conglomerate Alphabet.
Investment firm Greenoaks Capital led the round, which also featured IVP, Index Ventures and Scale Venture Partners. It valued the company at $1.25bn, co-founder and CEO Shoaib Makani told TechCrunch.
KeepTruckin supplies products that help track and improve the efficiency of trucking fleets, including electronic logging software and a smart dashcam. Customers can also access additional tools through an app marketplace run by the company.
The funding will be used to enhance KeepTruckin’s hardware and machine learning capabilities while it looks to expand the size of its team and forge strategic partnerships to support growth.
The company has now raised more than $228m since it was founded in 2013, securing $2.3m from GV (then known as Google Ventures) and various angel investors the same year.
GV and Index Ventures added $8m in series A funding in 2015 before returning for an $18m series B round led by Scale Venture Partners in mid-2017. IVP led KeepTruckin’s $50m series C in March 2018, investing with GV, Scale Venture Partners and Index Ventures.
Shoaib Makani said in a statement announcing the round: “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.
“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.”
Image courtesy of KeepTruckin, Inc.
