CloudTrucks, a San Francisco, Calif. – based virtual trucking carrier that empowers independent truck drivers, closed a Series A funding round of $20.5m.
The round was led by Caffeinated Capital with participation from Craft Ventures, Khosla Ventures, SciFi VC, Kindred Ventures, Abstract Ventures, and Better Tomorrow Ventures.
The company intends to use the funds to accelerate product development and recruitment of top talent in data science, engineering, operations, and sales.
Founded in 2019 by Tobenna Arodiogbu (CEO), Jin Shieh (CTO) and George Ezenna (Co-founder), CloudTrucks is a virtual trucking carrier that brings innovative solutions like Schedule Optimizer, free quick payment, lower-cost insurance, automated paperwork, and other features to allow truckers manage their businesses while saving time and money.
The company has also launched a payments product – CT Cash – to help truckers manage payments.