E-log and small fleet dispatch software provider KeepTruckin is planning its next moves following an additional $18 million in Series B funding, led by Scale Venture Partners and existing investors GV (formerly Google Ventures) and Index Ventures.
The infusion will allow the company, which started as a smartphone-based logging platform in 2013, to take its current electronic logging device and small fleet management platform to another level.
“If we are successful in bringing a significant number of drivers, vehicles and carriers into our network on back of the ELD mandate, there is so much more we can do for and with them,” says Shoaib Makini, founder and CEO of KeepTruckin. With the additional funding, KeepTruckin plans to expand its modular platform to pursue new opportunities in freight matching, driver performance, insurance, back-office automation and other areas, he says.
KeepTruckin is able to expose ELD data from owner operators and fleets to brokers with the carrier’s consent. Its customers may want to share their HOS status with online freight matching platforms like DAT and Truckstop.com or with brokers directly, he says.
By sharing ELD information, brokers will immediately know where the truck is and whether or not it has available capacity, thus eliminating inefficiency in the freight matching process.
“It’s going to be a fun year. We are excited about our position,” he says.
The company also plans to add a video event recorder to its suite of offerings.