A platform helping truck drivers find work and organize their business CloudTrucks announced today that it has raised $20.5 million in a Series A round led by Caffeinated Capital with participation from Craft Ventures, For Better Tomorrow Ventures. The CEO Tobenna Arodiogbu said that the problem they were trying to solve was basically helping truck drivers manage their business better.
“We noticed that more and more drivers wanted to take control of their schedule and become entrepreneurs, The CloudTrucks mobile app help the drivers they can see loads coming from many different shippers across the country, which helps drivers make better decisions on which loads to take to increase their profit.
“The full process start after they sign up in the app and then they find all the leads that they can book them instantly, and also they have a calendar to manage their time, they have CT Cash to manage their payments, and everything is simplified.” The company launched the app in May of this year, has alredy grown to $1.8M transactions over the past 6 months and the company is growing 40% month doing over 300 deliveries on a monthly basis.
CloudTrucks, which currently employs 13 people and is headquartered in San Francisco, previously raised $6.1 million in a seed round.