Our Investment in KeepTruckin
I am proud to announce that Scale has led KeepTruckin’s Series B financing. Before I share why I am enthralled with this company, I want to rewind a bit and share some background. My father is a serial entrepreneur (the bootstrapped kind) in the trucking industry. My first job was in his warehouses. My second job was doing dispatch for his drivers. My third job, when I got my driver’s license, was doing local deliveries. You get the drift.
It’s been over twenty years since I’ve held those jobs, but I still have a passion for the industry from those early memories. One of Scale’s key investment trends is vertical software, it was only natural I gravitated towards logistics. It’s the backbone of our economy with trillions of dollars passed through. Still, many parts of the value-chain are incredibly fragmented creating a mass opportunitys for new entrants. There haven't been any large, SaaS incumbents to dominate the industry. I knew there was an opportunity.
I met with many, many interesting companies over the past few years. But none had quite the right mix of founder experience, industry knowledge, and market opportunity, at least not to my liking. Then I met Shoaib, founder of KeepTruckin. We saw the same massive opportunity for the industry. He delivered a very clear value proposition to his customers and the company’s traction spoke for itself.
KeepTruckin is the best mobile-first telematics solution for the long-haul trucking industry. There are more truck drivers in the US than any other profession. Over 3M trucks still rely on pen, paper, and cellular phones for compliance, fleet tracking, driver performance, route optimization, and customer communication. Those that do have technology predominantly rely on expensive, proprietary hardware. KeepTruckin delivers a far superior product for a fraction of the cost on the driver’s preferred device, their mobile phone. The biggest incumbent “technology” brand in the industry is a 120-year old map publisher (you can’t make this stuff up).
I am incredibly excited to become a part of the KeepTruckin journey. I look forward to working with Shoaib, Ryan, Obaid, and the rest of the KeepTruckin as well as existing investors Ilya at Index Ventures and Joe at Google Ventures. I’m sure this will get old quickly, but KeepTruckin…
Originally published May 19, 2017.