Skip to content
Search AI Powered
Human content, AI powered search.

Latest Stories

KeepTruckin gains $190 million VC funding for fleet management tech

Valuation makes startup the latest logistics “unicorn” valued over $1 billion as company sees fast growth from pandemic-accelerated digital transformation trend.

keeptruckin-Image-6-18-21-at-11.53-AM.jpg
Ben Ames
By Ben AmesJun 18, 2021
Ben Ames
Ben Ames has spent 20 years as a journalist since starting out as a daily newspaper reporter in Pennsylvania in 1995. From 1999 forward, he has focused on business and technology reporting for a number of trade journals, beginning when he joined Design News and Modern Materials Handling magazines. Ames is author of the trail guide "Hiking Massachusetts" and is a graduate of the Columbia School of Journalism.
See Full Bio

Fleet management technology provider KeepTruckin says the company saw fast business growth during the pandemic-accelerated digital transformation and has now landed $190 million in new funding that extend that momentum.

The “series E” venture capital round comes from G2 Venture Partners, Index Ventures, Greenoaks, IVP, Scale Venture Partners, funds managed by BlackRock, and several other investors. The San Francisco-based firm says the round values KeepTruckin at over $2 billion, which is well over the $1 billion threshold known by tech startups as “unicorn status.”

Other logistics sector firms to hit that mark recently include the delivery and fulfillment cloud platform provider Bringg, autonomous mobile robot (AMR) vendor Locus Robotics, and self-driving truck technology provider Plus.

KeepTruckin says it offers customers one source for everything they need to manage their fleets, equipping users with a package of hardware and software that manages video-based driver safety, global positioning system (GPS) tracking, electronic logging device (ELD) compliance, vehicle maintenance, and fuel spend management.

Investors said they are backing the firm because of its vision to use those services “to fundamentally improve the safety and sustainability of commercial vehicles through novel hardware and software,” Zach Barasz, partner at G2 Venture Partners, said in a blog post. “We know that an inflection point is coming in this industry: the proliferation of AI-powered cameras into all commercial vehicles, and KeepTruckin has the team and the highest quality 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.”

KeepTruckin plans to spend its new capital to continue building innovative AI-powered products, recruiting top-tier talent, and scaling rapidly to meet the needs of businesses that power the physical economy, the company said.

In previous signs of its expansion of technology services, KeepTruckin in 2020 launched a “smart load board” that connects its network of truck drivers with an array of freight brokers, and in 2019 landed a $149 million venture capital investment.

ArticleTransportationTrucking
keeptruckin inc
ArticleTransportationTrucking
keeptruckin inc

The Latest

everstream chart of number of containerships off east coast ports
Article

East Coast ports work through hefty backlog of containers

chip cooling plate from Mikros Technologies
Article

Jabil says acquisition cools off the hot chips behind cloud and AI

Logistics activity expanded in September
Featured

Logistics activity expanded in September

logo images of ILA union and USMX dockworkers ports
Article

Strike ends: East Coast dockworkers return to work

More Stories

team collaborating on data with laptops

Gartner: data governance strategy is key to making AI pay off

Supply chain planning (SCP) leaders working on transformation efforts are focused on two major high-impact technology trends, including composite AI and supply chain data governance, according to a study from Gartner, Inc.

"SCP leaders are in the process of developing transformation roadmaps that will prioritize delivering on advanced decision intelligence and automated decision making," Eva Dawkins, Director Analyst in Gartner’s Supply Chain practice, said in a release. "Composite AI, which is the combined application of different AI techniques to improve learning efficiency, will drive the optimization and automation of many planning activities at scale, while supply chain data governance is the foundational key for digital transformation.”

Keep ReadingShow less

Featured

PMA Screen Shot 2023-04-07 at 4.41.00 PM.png
Article

Ports of Los Angeles and Long Beach close in flashback to 2015 dockworker strike

Survey: In-store shopping sentiment up 21%
Featured

Survey: In-store shopping sentiment up 21%

Wreaths Across America seeks carriers for December mission
Featured

Wreaths Across America seeks carriers for December mission

dexory robot counting warehouse inventory

Dexory raises $80 million for inventory-counting robots

The British logistics robot vendor Dexory this week said it has raised $80 million in venture funding to support an expansion of its artificial intelligence (AI) powered features, grow its global team, and accelerate the deployment of its autonomous robots.

A “significant focus” continues to be on expanding across the U.S. market, where Dexory is live with customers in seven states and last month opened a U.S. headquarters in Nashville. The Series B will also enhance development and production facilities at its UK headquarters, the firm said.

Keep ReadingShow less
container cranes and trucks at DB Schenker yard

Deutsche Bahn says sale of DB Schenker will cut debt, improve rail

German rail giant Deutsche Bahn AG yesterday said it will cut its debt and boost its focus on improving rail infrastructure thanks to its formal approval of the deal to sell its logistics subsidiary DB Schenker to the Danish transport and logistics group DSV for a total price of $16.3 billion.

Originally announced in September, the move will allow Deutsche Bahn to “fully focus on restructuring the rail infrastructure in Germany and providing climate-friendly passenger and freight transport operations in Germany and Europe,” Werner Gatzer, Chairman of the DB Supervisory Board, said in a release.

Keep ReadingShow less
containers stacked in a yard

Reinke moves from TIA to IANA in top office

Transportation industry veteran Anne Reinke will become president & CEO of trade group the Intermodal Association of North America (IANA) at the end of the year, stepping into the position from her previous post leading third party logistics (3PL) trade group the Transportation Intermediaries Association (TIA), both organizations said today.

Reinke will take her new job upon the retirement of Joni Casey at the end of the year. Casey had announced in July that she would step down after 27 years at the helm of IANA.

Keep ReadingShow less
NOAA weather map of hurricane helene

Florida braces for impact of Hurricane Helene

Serious inland flooding and widespread power outages are likely to sweep across Florida and other Southeast states in coming days with the arrival of Hurricane Helene, which is now predicted to make landfall Thursday evening along Florida’s northwest coast as a major hurricane, according to the National Oceanic and Atmospheric Administration (NOAA).

While the most catastrophic landfall impact is expected in the sparsely-population Big Bend area of Florida, it’s not only sea-front cities that are at risk. Since Helene is an “unusually large storm,” its flooding, rainfall, and high winds won’t be limited only to the Gulf Coast, but are expected to travel hundreds of miles inland, the weather service said. Heavy rainfall is expected to begin in the region even before the storm comes ashore, and the wet conditions will continue to move northward into the southern Appalachians region through Friday, dumping storm total rainfall amounts of up to 18 inches. Specifically, the major flood risk includes the urban areas around Tallahassee, metro Atlanta, and western North Carolina.

Keep ReadingShow less
Copyright ©2024.