SAN FRANCISCO, CA, CloudTrucks, the first-of-its-kind technology-driven trucking company, has secured $115 million in Series B funding, totaling CloudTrucks' valuation to $850 million.
The round was led by Tiger Global with participation from Menlo Ventures. The round also includes investment from Flexport as well as angel investors Michael Ovitz and Opendoor CEO Eric Wu, and will enable CloudTrucks to accelerate its expansion as it helps small trucking businesses and entrepreneurs streamline administrative bottlenecks and keep more revenue.
From instant payments to smart load scheduling and competitive rates, CloudTrucks empowers small trucking businesses and entrepreneurs to make the most of every run. Created by Tobenna Arodiogbu, Jin Shieh and George Ezenna in 2019, CloudTrucks uses technology to streamline administrative bottlenecks-making it easier for drivers to run their business and produce more revenue.
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