The San Francisco-based fleet management platform for the trucking industry reportedly has a valuation of $1.2 billion following the latest funding round.
KeepTruckin, a fleet management platform for the trucking industry, has raised $149 million in Series D funding, co-founder and CEO Shoaib Makani said Tuesday in a blog post on the company’s website.
Greenoaks Capital led the latest funding round with participation from existing investors GV, Index Ventures, IVP and Scale Venture Partners, which raised KeepTruckin’s investor backing to $228 million. The funding round also gave the San Francisco-based startup a valuation of $1.2 billion, according to The Wall Street Journal.
The company, founded in 2013, plans to use ELD data to create the KeepTruckin Smart Load Board for intelligent freight matching to connect “those who need capacity with those who need loads,” Makani (pictured above) wrote in the blog post. More than 250,000 vehicles and 50,000 for-hire carriers use KeepTruckin ELDs, he said.
The funds also will be used to help the company launch video safety and asset management systems. KeepTrucking also plans to expand to more than 2,000 employees over the next 18 months and open multiple new offices in North America.
Makani said the company in 2018 grew its revenue by 300 percent, launched its Smart Dashcam, opened its platform to third-party developers and expanded to more than 1,000 employees across seven global offices.