April 29, 2019 11:45 AM, EDT

KeepTruckin Gets $149 Million Investment From Greenoaks Capital

KeepTruckin telematics deviceA KeepTruckin dashboard camera. (KeepTruckin via YouTube)

KeepTruckin, a fleet-management company specializing in connectivity, secured $149 million in an investment led by Greenoaks Capital, with participation from existing investors IVP, GV, Index Ventures and Scale Venture Partners, according to an April 23 press release.

The investment brings the company’s funding to $228 million, according to KeepTruckin.

The company said it will use the funds to expand hiring, expand hardware and further its advancements in machine learning.

KeepTruckin manages a network of connected trucks, assisting 250,000 vehicles and more than 50,000 for-hire carriers.

The firm tracks vehicle and driver compliance, safety, freight and load capacity. Its software connects freight data with decision-making, according to the company.

San Francisco-based KeepTruckin said it has grown substantially in the past year, more than doubling global headcount across seven offices. The company uses software and smartphones to offer the KeepTruckin electronic logging device; KeepTruckin electronic logbook app for iOS and Android; and the KeepTruckin smart dashcam. — Transport Topics