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CloudTrucks $115M Funding Announcement: A Letter From the CEO

Tobenna Arodiogbu

CEO, CloudTrucks

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Today, we announced a new $115M investment into CloudTrucks and I wanted to share a little bit about what this means for the future. First off, we founded CloudTrucks on the idea that the trucking industry has been rapidly changing and getting much more complex, while the owner-operators, the lifeblood of the trucking industry, were being left behind. We wanted to change that by building something from the ground up to ensure that owner-operators — and really all trucking entrepreneurs — have the tools to succeed and thrive in the industry.

We believe that the future of the trucking industry lies in the hands of the trucking entrepreneurs and with this new investment, the largest ever dedicated to building business management solutions for trucking entrepreneurs, we intend to help build that future.

So what should you expect to see from us in the months and years ahead?

Revenue Maximization

Last year, we launched the Schedule Optimizer, an innovative solution to find you the best profit-maximizing loads. We have seen a lot of promise so far and with some new releases planned over the next few months, we intend to see this continue to become a one-of-a-kind dispatcher in your pocket to enable you to continue to maximize your revenue opportunities. We will also be launching new partnerships and programs to introduce new revenue opportunities for our customers.

Improved Cash-flow

We also launched CT Cash, a first of its kind instant pay solution in the trucking industry, on the belief that you should always have access to your money instantly, after your job is completed. So far, it has been a huge success! But we don’t want to stop there. We’ve seen first hand all of the financial challenges that owner-operators have to deal with, from subpar fuel cards, to really expensive financing options to grow your business. Over the next few months, expect to see us continue to launch a lot more products tailored to solving your financial needs as you continue to run and grow your trucking business.

Lower Costs

With the introduction of our Business Intelligence product, we armed our customers with a way to track all expenses, fixed and recurring, in real time on the CloudTrucks app. By keeping track of your expenses, you can also start to better understand how your business is performing in real time. We will be launching a number of new Business Intelligence features to not only help you keep track but also to better predict your business performance. We will also be launching more discounts (in addition to our previously launched fuel and maintenance discounts) to help you lower your business costs.

Fewer Headaches

We are dedicated to having the very best customer support for when things go wrong while you’re out there on the road. We plan to continue investing deeply in expanding our customer support capabilities.

And much more…

Finally, just like we have done with our Road to Independence program (for company drivers looking to become owner operators) as well as introduction of our Flex product line (for owner operators who want to keep their authority), expect us to continue to invest in exciting new products to continue to solve your deepest business challenges.

We are dedicated to building the very best tools to enable trucking entrepreneurs to succeed and we are just getting started. Thank you so much for working with us over the past year and we look forward to continuing to build a better trucking future together!

Tobenna — CEO and Co-founder, CloudTrucks


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