NEXT Trucking

NEXT Trucking

Tech-enabled logistics and freight marketplace

About NEXT Trucking

Simplify's Rating
Why NEXT Trucking is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Rating Differentiation

Industries

Automotive & Transportation

Enterprise Software

Company Size

201-500

Company Stage

Series C

Total Funding

$120.9M

Headquarters

El Segundo, California

Founded

2015

Overview

NEXT Trucking provides a logistics solution that combines a freight marketplace with its own fleet of drivers and partnerships. The company offers services such as Drayage, OTR trucking, and transloading, which involve transporting goods over short and long distances and transferring them between different transport modes. By utilizing a technology-driven platform, NEXT connects shippers, who need to move goods, with carriers, who transport them, making the process more efficient and cost-effective. This approach sets NEXT apart from competitors by focusing on streamlining logistics operations and enhancing communication between parties involved in the shipping process. The goal of NEXT Trucking is to optimize the transportation of goods, reduce costs for shippers, and increase revenue for carriers, ultimately contributing to the growth of the logistics industry.

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Simplify's Take

What believers are saying

  • Integration of AI enhances predictive analytics for supply chain optimization.
  • Electric and autonomous trucks offer potential cost savings and efficiency improvements.
  • Blockchain technology improves transparency and traceability in logistics.

What critics are saying

  • Increased competition from digital freight brokers like Uber Freight pressures market share.
  • Acquisition by CDL 1000 may lead to integration challenges and service disruptions.
  • Complexity of drayage logistics could pose operational challenges and increase costs.

What makes NEXT Trucking unique

  • NEXT Trucking integrates a freight marketplace with its own fleet and partnerships.
  • The company offers a comprehensive suite of services including drayage, OTR, and transloading.
  • NEXT's tech-enabled platform efficiently connects shippers with carriers, reducing time and costs.

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Funding

Total Funding

$120.9M

Above

Industry Average

Funded Over

4 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$97M
NEXT Trucking
$100M
Oura

Company News

FreightWaves
May 13th, 2024
Next Trucking Releases Expert Tools To Tackle Supply Chain Complexity

Long Beach, California-based NEXT Trucking recently announced product and program updates as part of its tech stack improvements following its merger with Chicago-based digital freight broker CDL-1000. These updates are targeted at improving the experience for both shippers and carriers by leveraging the combined companies’ resources and industry expertise.NEXT Trucking began as a FreightTech pioneer back in 2015 with a focus on connecting full truckload and less-than-truckload carriers with shippers through an online platform and mobile application. By 2019, the company has added drayage as part of its logistics offering and expanded its technology platform.In an interview with FreightWaves, Chris North, product marketing manager at NEXT, talked about the newest updates and his tenure with the company. With NEXT since 2016, North helped build the over-the-road business and technology before helping the company diversify into drayage.“We built our OTR brokerage and tech platform to a point where it was sustainable and doing well,” said North. “I’d been managing drayage and OTR shipments since joining NEXT, so expanding into drayage technology was a natural progression for us. Of course, drayage is a heck of a lot more complex than truckload, but here we are almost five years later with the most advanced drayage technology in the industry.”The path to drayage success involves integrations due to the extra complexities among multiple parties

U.S. Securities and Exchange Commission
Mar 5th, 2024
SEC FORM D/A

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.The reader should not assume that the information is accurate and complete.

FreightWaves
Feb 12th, 2024
CDL 1000 acquires Next Trucking

Digital freight marketplace CDL 1000 has expanded its market share into Los Angeles with the acquisition of competitor Next Trucking.

The Loadstar
Feb 12th, 2024
WSJ: Digital freight startup CDL 1000 acquires rival NEXT Trucking - The Loadstar

THE WALL STREET JOURNAL reports: Digital freight broker CDL 1000 acquired competitor NEXT Trucking in an equity deal that extends consolidation in the struggling, technology-focused business of matching trucks and shipments.The agreement combines Chicago-based CDL 1000’s business, which manages loads on short-haul routes between seaports and warehouses, with similar services at Long Beach, Calif.-based NEXT Trucking focused on the nation’s busiest container port complex at Los Angeles and ...

WFMZ
Jan 20th, 2022
Next Trucking Inc. hired Abhishek as Chief Executive Officer on Jan 20th 22'.

NEXT Trucking, a freight technology platform and digital marketplace connecting shippers and carriers, today announced the appointment of its new Chief Executive Officer (CEO), Abhishek (Abs) Kapur.

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