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

CloudTrucks Overview

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

United StatesSan Francisco, CA

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

CloudTrucks valuation by funding round
DateStageValuation
Nov 2021Series 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

CloudTrucks funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series BMenlo Ventures (lead); Tiger Global (lead); Michael Ovitz; Flexport; Khosla Ventures; Kindred Ventures; Eric Wu; BTV Invest; Abstract; Caffeinated Capital; Craft Ventures$115M$850MCloudTrucks 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 2020Series ACaffeinated Capital (lead); Better Tomorrow Ventures; SciFi VC; Khosla Ventures; Kindred Ventures; Abstract; Craft Ventures$21M--
Jan 2020SeedCraft 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

Investors in CloudTrucks by funding rounds participated
InvestorHQRoundsRoleFirst check
Khosla VenturesUnited StatesSan Francisco, CA3ParticipantJan 2020
Kindred VenturesUnited StatesSan Francisco, CA3ParticipantJan 2020
AbstractUnited StatesSan Francisco, CA3ParticipantJan 2020
Craft VenturesUnited StatesSan Francisco, CA3LeadJan 2020
Caffeinated CapitalUnited StatesSan Francisco, CA2LeadDec 2020
Better Tomorrow VenturesUnited StatesSan Francisco, CA1ParticipantDec 2020
Menlo VenturesUnited StatesSan Francisco, CA1LeadNov 2021
Half Court VenturesUnited StatesBoston, MA1ParticipantJan 2020
SciFi VCUnited StatesSan Francisco, CA1ParticipantDec 2020
Michael OvitzUnited StatesLos Angeles, CA1ParticipantNov 2021
FlexportUnited StatesSan Francisco, CA1ParticipantNov 2021
Eric WuUnited StatesSan Francisco, CA1ParticipantNov 2021

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CloudTrucks Competitors

CloudTrucks competitors include listed companies like JSTI and GuoChuang Software, and private ones like Sennder, Virgin Hyperloop, Loggi and Loadshare Networks.

Public and private companies comparable to CloudTrucks
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SennderGermanyBerlinPrivate--$1B-
Virgin HyperloopUnited StatesLos Angeles, CAPrivate--$700M-
LoggiBrazilSão PauloPrivate--$1.8B-
Loadshare NetworksIndiaBangalorePrivate$39M-$162M4.2x
JSTIChinaChinaPublicly listed$622M$30M$947M1.7x
GuoChuang SoftwareChinaChinaPublicly 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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
e-Hualu$69M($310M)24.1x-(5.4x)-
Covenant Logistics$1.2B$110M1.0x0.9x10.7x8.2x
Guotai Epoint Sofware$274M$14M1.3x1.4x26.2x25.3x
Saudi Automotive Services$3.1B$186M0.7x0.6x11.1x12.4x
Kelsian Group$1.6B$197M0.9x0.8x7.1x6.2x
Heartland Express$806M$102M1.2x1.3x9.9x6.8x
JSTI$622M$30M1.6x1.7x32.7x13.8x
Jiangsu Tongxingbao$159M$47M2.7x-9.2x-

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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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