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- CloudTrucks
CloudTrucks Valuation, Funding & Investors
CloudTrucks is valued at $850M as of November 2021.
Last CloudTrucks valuation
$850M
Series B · Nov 2021
Last CloudTrucks funding round
$115M
Series B · Nov 2021
Cumulative funding CloudTrucks raised
$142M
across 3 funding rounds
Key investors in CloudTrucks
Khosla Ventures
Craft Ventures
Abstract
Kindred Ventures
Caffeinated Capital
Tiger Global
About CloudTrucks
CloudTrucks is a San Francisco-headquartered digital freight platform founded in 2019 for independent truck drivers. The app connects operators with loads from brokers via mobile booking, offers factoring for instant payments post-delivery, and provides insurance marketplaces. Operating in the U.S. trucking corridors, CloudTrucks optimizes routes and backhauls to increase earnings in the $800 billion logistics industry.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Commission, Subscription
Valuation
$850M (Nov 2021)
CloudTrucks Valuation
CloudTrucks is currently valued at $850M, based on its Series B in November 2021.
The $115M round was led by Menlo Ventures and Tiger Global, with participation from Michael Ovitz, Flexport, Khosla Ventures, Kindred Ventures, Eric Wu and 4 other investors.
CloudTrucks valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2021 | Series B | $850M |
CloudTrucks Funding History
CloudTrucks has raised a total of $142M across 3 funding rounds.
CloudTrucks' first fundraising round was a $6M seed round in January 2020. The most recent completed round was a $115M Series B in November 2021.
CloudTrucks funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2021 | Series B | Menlo Ventures (lead); Tiger Global (lead); Michael Ovitz; Flexport; Khosla Ventures; Kindred Ventures; Eric Wu; BTV Invest; Abstract; Caffeinated Capital; Craft Ventures | $115M | $850M | CloudTrucks is a technology-driven trucking company that provides a complete business-in-a-box solution for independent owner-operators and small trucking businesses, helping them streamline administrative tasks, manage cash flow, handle insurance, and maximize profits through tools like Virtual Carrier, Flex, and CT Cash instant pay. On November 30, 2021, it announced a $115 million Series B funding round led by Tiger Global and Menlo Ventures, with participation from Flexport, angels Michael Ovitz and Eric Wu, and prior investors including Caffeinated Capital, Craft Ventures, Khosla Ventures, Abstract, BTV Invest, and Kindred Ventures, bringing total funding to $141.6 million following a $20.5 million Series A in December 2020. The round valued CloudTrucks at a post-money valuation of $850 million. The funds are earmarked for accelerating expansion, enhancing technology for drivers, growing the team—particularly in engineering, data science, and customer support—and deepening digital integrations with brokers and shippers to reduce headaches for truck entrepreneurs amid industry complexities. CloudTrucks reported strong traction, with loads completed on its platform growing 8x year-over-year and revenue increasing 9.5x since the Series A, though absolute figures and base numbers were not disclosed; the company handles thousands of loads monthly across the US. Positioned as a mission-driven player empowering the 'lifeblood' of the trucking industry—owner-operators—CloudTrucks addresses gaps in tools for drivers compared to brokers and shippers, optimizing operations in a sector critical to the US economy facing driver shortages. Investors like Tiger Global highlighted its potential to transform outdated practices such as payment processes, viewing it as leading the largest funding dedicated to trucking entrepreneur solutions at the time. |
| Dec 2020 | Series A | Caffeinated Capital (lead); Better Tomorrow Ventures; SciFi VC; Khosla Ventures; Kindred Ventures; Abstract; Craft Ventures | $21M | - | - |
| Jan 2020 | Seed | Craft Ventures (lead); Half Court Ventures; Khosla Ventures; Kindred Ventures; Abstract | $6M | - | CloudTrucks is a technology-enabled trucking platform founded by Tobenna Arodiogbu that provides business management solutions for independent owner-operator truck drivers and small trucking companies. The company helps drivers streamline administrative tasks, manage payments, track performance and revenue, and reduce barriers to entry in the trucking industry. In January 2020, CloudTrucks closed a $6.1 million seed round led by Craft Ventures with participation from Khosla Ventures, Kindred Ventures, and Abstract Ventures. The round enabled the company to launch its platform and early payment products to help truckers optimize their operations. By December 2020, CloudTrucks had raised a Series A of $20.5 million, and the platform demonstrated strong traction with 8x growth in loads completed on the platform by the time of its November 2021 Series B round, which valued the company at $850 million. |
Who has invested in CloudTrucks?
14 investors have backed CloudTrucks across its funding rounds, including Khosla Ventures, Craft Ventures, Abstract, Kindred Ventures, Caffeinated Capital and Tiger Global.
Lead investors include Menlo Ventures, Tiger Global, Caffeinated Capital and Craft Ventures.
CloudTrucks Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Participant | Jan 2020 | ||
| 3 | Participant | Jan 2020 | ||
| 3 | Participant | Jan 2020 | ||
| 3 | Lead | Jan 2020 | ||
| 2 | Lead | Dec 2020 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Lead | Nov 2021 | ||
| 1 | Participant | Jan 2020 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Participant | Nov 2021 | ||
| 1 | Participant | Nov 2021 | ||
| 1 | Participant | Nov 2021 | ||
This data is available for Pro users. Sign up to see all 14 CloudTrucks investors. Start Free Trial | ||||
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Start Free TrialCloudTrucks Competitors
CloudTrucks competitors include listed companies like JSTI and GuoChuang Software, and private ones like Sennder, Virgin Hyperloop, Loggi and Loadshare Networks.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $700M | - | ||
| Private | - | - | $1.8B | - | ||
| Private | $39M | - | $162M | 4.2x | ||
| Publicly listed | $622M | $30M | $947M | 1.7x | ||
| Publicly listed | $220M | ($17M) | $960M | - |
CloudTrucks Public Comps
CloudTrucks is still privately-owned, but its public comps include e-Hualu, Covenant Logistics, Guotai Epoint Sofware, Saudi Automotive Services, Kelsian Group, Heartland Express, JSTI, Jiangsu Tongxingbao, Beijing eGova and GuoChuang Software.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $69M | ($310M) | 24.1x | - | (5.4x) | - | |||
| $1.2B | $110M | 1.0x | 0.9x | 10.7x | 8.2x | |||
| $274M | $14M | 1.3x | 1.4x | 26.2x | 25.3x | |||
| $3.1B | $186M | 0.7x | 0.6x | 11.1x | 12.4x | |||
| $1.6B | $197M | 0.9x | 0.8x | 7.1x | 6.2x | |||
| $806M | $102M | 1.2x | 1.3x | 9.9x | 6.8x | |||
| $622M | $30M | 1.6x | 1.7x | 32.7x | 13.8x | |||
| $159M | $47M | 2.7x | - | 9.2x | - | |||
This data is available for Pro users. Sign up to see all CloudTrucks competitors and their valuation data. Start Free Trial | ||||||||
Common questions about CloudTrucks
| When was CloudTrucks founded? | CloudTrucks was founded in 2019. |
| Where is CloudTrucks headquartered? | CloudTrucks is headquartered in San Francisco, CA, United States. |
| Is CloudTrucks publicly listed? | No, CloudTrucks is a private, VC-backed company. |
| What is CloudTrucks' valuation? | CloudTrucks was last valued at $850M in its Series B in November 2021. |
| How much funding has CloudTrucks raised? | CloudTrucks has raised $142M across 3 funding rounds. |
| What was CloudTrucks' last funding round? | CloudTrucks' last funding round was a $115M Series B in November 2021, led by Menlo Ventures and Tiger Global. |
| Who are CloudTrucks' investors? | CloudTrucks' investors include Khosla Ventures, Kindred Ventures, Abstract, Craft Ventures, Caffeinated Capital, Better Tomorrow Ventures, Menlo Ventures, Half Court Ventures, SciFi VC, Michael Ovitz and 4 others. |
| Which companies are comparable to CloudTrucks? | Companies comparable to CloudTrucks include Sennder, Virgin Hyperloop, Loggi, Loadshare Networks, JSTI and GuoChuang Software. |
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