CloudTrucks

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Truck Industry Tech?
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Early
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Online freight platforms
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CloudTrucks offers an online trucking carrier application designed to empower independent drivers to manage their fleets efficiently. CloudTrucks offers key products, including "Virtual Carrier," which enables truck drivers and small trucking businesses to lease onto CloudTrucks' authority, granting access to loads, exclusive contract freight, and dedicated lanes. This service also provides features like instant payments, fuel discounts, and financial tracking via an app. Additionally, CloudTrucks provides "Flex," a transportation management system (TMS) designed for small trucking fleets, streamlining operations with automated load management, real-time ELD freight tracking, instant invoicing, and financial tracking. CloudTrucks also facilitates instant payment for drivers upon load delivery and the ability to upload bills via its “CT Cash” feature.

As of July 2024, the company had 35,000+ registered drivers on the platform, having delivered 120,000+ loads across the US since 2019. It charges a brokerage fee per shipment.

In February 2024 , CloudTrucks acquired the brokerage arm of cloud-based software provider Shipwell to provide more frequent loads for CloudTrucks' network of drivers.

Key customers and partnerships

As of July 2024, CloudTrucks had served 1,200+ customers, and included Corona, Coca-Cola, OceanSpray, Modelo, and Svedka.

The company also has partnerships with other loadboards, including Loadsmart (September 2022), Uber Freight (July 2022), and 123Loadboard (April 2022) to enhance load options to its drivers. Its other product partnerships include Visa and Stripe to launch CT Cash feature (December 2020).

HQ location:
San Francisco CA USA
Founded year:
2019
Employees:
101-250
IPO status:
Private
Total funding:
USD 141.6 mn
Last Funding:
USD 115.0 mn (Series B; Nov 2021)
Last valuation:
USD 850.0 mn (Nov 2021)
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