logo
logo

CloudTrucks Raises $20.5 Million Series A; Launches Instant Payments to Help Truckers Manage Cash Flow

Dec 16, 2020•over 4 years ago

Amount Raised

$20 Million

Round Type

series a

San Francisco

Description

CloudTrucks, the virtual trucking carrier that empowers independent truck drivers, announced today that it has closed a Series A funding round of $20.5 million, led by Caffeinated Capital with participation from Craft Ventures, Khosla Ventures, SciFi VC, Kindred Ventures, Abstract Ventures, and Better Tomorrow Ventures. It also launched a first of its kind payments product - CT Cash - to help truckers manage payments.

Company Information

Company

Cloud Trucks

Location

San Francisco, California, United States

About

CloudTrucks is an industry-pioneering virtual trucking carrier that helps truck drivers make more money, optimize their schedules, find better-paying loads, and manage their businesses for better financial health and a more successful and empowering life. Founded in 2019, CloudTrucks brings the power of data science and software to the trucking industry with innovative solutions like Schedule Optimizer, helping truckers maximize their revenue while staying flexible and being home when they want to be. CloudTrucks also offers free quick payment, lower-cost insurance, automated paperwork, and other features to help truckers seamlessly manage their businesses while saving time and money. CloudTrucks was founded by Tobenna Arodiogbu (CEO), Jin Shieh (CTO) and George Ezenna (Co-founder). To learn more visit CloudTrucks.com 

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech