KeepTruckin is a tech startup that serves trucking companies with a platform that helps them manage their fleets. It also assists drivers in keeping logs of hours on the road within the legal parameters. The company has recently made the news with a fundraising event that will allow it to double its current operations. It's a company that has the potential to change the way that truck drivers and fleet managers manage their tasks with greater ease and efficiency. If you're not yet familiar with the startup, here are 20 things you probably didn't know about KeepTruckin.
1. KeepTruckin helps modernize the trucking industry
According to Crunchbase, KeepTruckin offers electronic solutions that can help drivers to log their hours with an electronic logbook app that is compatible with Android and iOS. It also provides a web dashboard that automates the task of log auditing for fleet managers. The suite of products provides other useful tools for vehicle location tracking, IFTA reporting, and many other functions.
2. KeepTruckin has a large client base
Keep Truckin has been in business since its launch in 2013. In just 8 years it has earned the trust and regard of more than 13,000 Fleets. Within this client base, some of the products are used by more than 400,000 drivers. This is a massive client base for a company that is less than a decade old.
3. KeepTruckin is a versatile company
KeepTruckin offers a range of useful tools and services to those in the trucking industry. The scope of the products is so wide that it is listed under four industry categories. It is a fleet management resource that also provides logistics services. It serves the transportation industry through its software as a service business approach.
4. KeepTruckin is an American company
KeepTruckin was founded in 2013 by Obaid Khan, Ryan Johns, and Shoaib Makani. The headquarters is located in San Francisco, California. This is the first entrepreneurial effort by Khan, Johns, and Makani. As first-time business owners, they have performed remarkably well during turbulent financial times when other businesses are failing left and right. The three co-founders established their tech startup and have grown it to remarkable levels of success without prior experience in starting a company. This speaks highly of their ability to try new things, to learn, and to make them work.
5. KeepTruckin's executive leadership team is large
There are fourteen members in the executive leadership team of KeepTruckin. Shoaib Makani is a co-founder and also serves as the chief executive officer. Ryan Johns is a co-founder and the chief technology officer. Obaid Khan is a co-founder and head of operations. Inderjeet Singh is the vice president of engineering, AI driver safety, and compliance products. Rahul Jaswa is the senior vice president of business operations and strategy. Caitlin Schlakman is the vice president of human resources. Brian Germain is the senior vice president of sales, customer success, and support. Joe Moran is the chief financial officer.
6. KeepTruckin has a 5 member board of directors
The board of directors for KeepTruckin is comprised of five qualified advisors. Alex Niehenke joined the board in 2017. He is a partner at Scale Venture Partners. He currently serves on 9 boards of directors. Chad Boblett has been an advisor since 2019. Roseann Wincek is a Board Observer. She is an advisor with Institutional Venture Partners and currently serves on four board and advisory committees. Ilya Fushman joined the board on July 1, 2015. He is a partner with Kleiner Perkins with 3 portfolio companies. Joe Kraus is a board member and partner at GV with 9 portfolio companies.
7. KeepTruckin uses complex technologies
The technologies used to power the KeepTruckin website are complex and numerous. There is a staggering number of technologies used to power the site. KeepTruckin actively uses 90 technologies that are distributed over 39 technology products. The site runs smoothly and efficiently, but there are a plethora of tech products running in the background. Some of the tech products include HTML5, jQuery, Google Analytics, iPhone Mobile Compatible, SPF, Viewport Meta, and others.
8. KeepTruckin maintains an edge over the competition
KeepTruckin has a product that none of the other tech companies in the business can use. Nor can they imitate the functions because KeepTruckin has registered 1 patent in the category of Testing. In addition to this, the company has secured four registered trademarks in the scientific and electric apparatus and instruments category. The patent and trademarks protect the intellectual property of the technology products that KeepTruckin has developed and now markets. This is one of the factors that makes them unique in their niche of the technology industry. Legally, they are unimitable.
9. KeepTruckin has a high overhead for IT
KeepTruckin uses a massive amount of technology products to power its website. These products help to provide the platform also and it is expensive. We learned that the overhead cost to the budget for IT expenses is an estimated $6.2 million annually.
10. KeepTruckin downloads are massive
In the last 30 days, KeepTruckin has been downloaded 123,352 times. This is the estimated average number of monthly downloads There are two main apps provided by the company with the KeepTruckin Driver ELD app the most popular, followed by the KeepTruckin Fleet app. The app is most commonly downloaded through Google Play, followed by Itunes Connect.
10. KeepTruckin website's traffic is growing monthly
The monthly growth rate of KeepTruckin is growing at a rate of 0.9 percent. The latest analytics show that the average number o monthly visits to the website are 1,611,858. Based on this number, KeepTruckin is ranked as number 31,09 of all of the millions of websites registered on the world wide web, due to its high numbers of monthly traffic.
11. KeepTruckin is most frequently visited by people from the United States
The analytics for the KeepTruckin website shows that the majority of visitors to the website come from people who live in the United States. Eighty-eight percent of the traffic originates from this country with a monthly visits growth rate of 1.58 percent. Eight percent of the visitors come from Canada with two percent from Pakistan, one percent from Serbia, and one percent from Ukraine. The growth rate of visitors in Serbia has grown by 58.37 percent showing that there is international interest in the company.
12. KeepTruckin is a venture capital-backed company
KeepTruckin is backed by venture capital investors. The total amount raised is $417.3 million in seven rounds. The most recent event was a Series E round that closed on April 30, 2021. There are fourteen investors engaged in the fundraising efforts.
13. KeepTruckin is a unicorn company
According to Techcrunch, KeepTrukin has recently completed its Series E funding round that raised an additional $190 million. This amount has pushed the total valuation of the company to $2 billion. This is double the required amount to qualify for unicorn status. Within 8 years of its founding, it has joined this exclusive group of billion-plus dollar companies.
14. KeepTruckin has high investor confidence
KeepTruckin has attracted the attention of some of the largest venture capital investors in the world. These companies have confidence that KeepTruckin will continue to grow and expand, and provide a good return on the investments made in its progress. Some of the 14 investors that are backing the company include Venture Partners, Greenoaks Capital, Index Ventures, Scale Venture Partners, BlackRock, IVP, and several others. The current status of the company with its unicorn status is confirmation that the investors were correct in their assumption that KeepTruckin is a good investment that is highly likely to pay off in the future.
15. KeepTruckin has plans for expansion
The company has shared that it has plans to use the new capital that was raised in the VC fundraising rounds. Some of the plans that they shared include providing GPS Tracking along with further enhancements to the current platform including ELD compliance as well as dispatch and workflow. We are going to see yet more tools emerge from the platform to help those in the trucking industry to use time and money-saving logistics features that provide alerts for drivers in real-time, and also alert them when they are engaging in risky behaviors while driving, such as cell phone distraction
16. KeepTruckin's platform is showing results in reducing accidents
We also learned that there is data to confirm that the platform that KeepTruckin provides for the drivers in the trucking industry has resulted in a reduction in the annual number of accidents after they implement the Safety Hub, Drive risk score, and Smart Dashcam products. Accidents have been lowered by thirty-two percent by Usher Transport, a client subscribed for the service for its fleet managers and its truck drivers.
17. KeepTruckin plans to double its research and development team
Part of the funds recently raised will be used to further enhance the power of the artificial intelligence technology to do even more to increase safety and efficiency in the trucking industry through the KeepTruckin platform. There are still more things that need to be done to cover all the gaps and potential risks to safety. KeepTruckin plans to double its team of researchers and developers for a total of 700 workers who will maintain a focus on further developing artificial intelligence, engineering, machine vision, data science, and other technologies to their fullest.
18. KeepTruckin is growing its workforce
According to LinkedIn, the workforce at KeepTruckin is 2,066 staff members. There are currently 193 job openings with the company. This suggests that some hires have already been made and that there are almost two hundred more job openings that have yet to be filled. This is an exciting time in the history of the tech startup that was launched a mere 8 years ago. They've come a long way in a short time. KeepTruckin has made its three co-founders very wealthy men during a time when it's been tough for new businesses to make a go of it. They founded the company at a time when the trucking industry was sorely in need of modernization. The unique platform that KeepTruckin offers is just what was needed to bring this otherwise outdated industry into the 21st century with more use of digital technology.
19. KeepTruckin is a privately held enterprise
You won't be able to find a ticker symbol for KeepTruckin on the stock exchange. It's still backed by venture capital funding. The co-founders have not taken the company to the public arena for purchase trade and sale of shares. The company is growing and thriving under its current strategy of remaining a privately owned business with VC funding. It's not currently known how much of the company has been staked by the investors or what the precise nature of these agreements was, but it's still open to private investors vs the public sector. Still, you never know when the leaders may decide to file for an IPO in the future. At this time there has been no public discussion on the topic, so it is assumed that it's not something they're considering any time soon.
20. KeepTruckin is a company to keep your eye on
KeepTruckin has performed impressively since its inception 8 years ago. Although the public has no vehicle for investing in shares of the company, it's still one to keep your eye on. We expect to hear more about KeepTruckin as it continues to grow and expand, offering the high likelihood of becoming a disruptor in the trucking industry. It's a company with a mission to improve the safety of truckers and to help fleet managers perform their jobs with higher efficiency, greater convenience, and at a lower cost. KeepTrucking is a company that we expect to hear more about in the months and years to come.
Written by Dana Hanson
Read more posts by Dana Hanson