Overview

CloudTrucks provides an all-in-one fleet management platform for independent truck drivers and small fleets. It helps plan and optimize routes by compiling loads from multiple sources based on destinations and time on the road, using data and algorithms to boost efficiency and profitability. It tracks income and expenses, supports revenue goals, and handles payment collection upon delivery to reduce invoicing and speed cash flow. Revenue comes from subscriptions and potential transaction fees for load matching and payment processing, with the goal of helping drivers run their businesses more smoothly by lowering administrative burdens while increasing earnings.

Simplify's Take

What believers are saying

• Acquired Shipwell brokerage division to enhance load sourcing capabilities.
• Expanded Road to Independence with FleetFirst Leasing for driver ownership.
• Launched Starter subscription solution empowering small trucking businesses.

What critics are saying

• Uber Freight's AI platform captures 25% more drivers by Q1 2026.
• DOT ELD mandate July 2026 imposes $10K daily fines on noncompliant app.
• Freight recession burns $50M cash in 9 months triggering layoffs.

What makes CloudTrucks unique

• CloudTrucks offers virtual carrier with 18% fees versus 30-35% competitors.
• AI-powered Dispatch Assistant automates load finding and route optimization.
• CT Fuel provides fuel discounts averaging 30¢ per gallon at 1,000+ vendors.

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Funding

Total Funding

$141.6M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:

Tiger GlobalMenlo VenturesCraft Ventures

Notable Investors:

Tiger GlobalMenlo VenturesCraft Ventures

$115,000,000

Series B

Nov 2021

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Above Average

Industry standards

Ind Avg. $35M

$4M

$30M

$45M

$65M

$100M

$115M

View all funding stages