US-based KeepTruckin, which provides logbook technology for truck drivers, secured $8m in series A capital yesterday from investors including Google Ventures, the corporate venturing arm of conglomerate Alphabet.
Venture capital firm Index Ventures also participated in the round, which followed a $2.3m seed round in 2013 backed by Google Ventures and various angel investors.
Founded in 2013, KeepTruckin has developed an electronic logbook app that enables truck drivers to record their hours on their smartphone instead of using paper files. The company claims to have signed up some 150,000 drivers across 5,000 fleets to date.
The series A round comes ahead of an anticipated ruling by the US Department of Transportation this week that will legally require all interstate trucks and buses to be equipped with an electronic logging device.
Concurrent with the funding announcement, KeepTruckin has launched a device that connects to a vehicle’s diagnostic port and transfers data wirelessly to its logbook app.