Transportation startup Trucker Path announced it has secured $30 million in financing. Silicon Valley Bank and Flexible Funding participated in the round.
Trucker Path claims to be America’s fastest growing platform for the trucking industry, providing navigational assistance and truckload sourcing. With more than 30 percent of the U.S. class 8 (big rigs) truckers and growing, Trucker Path’s goal is to bring innovation to the legacy $700 billion trucking industry, eliminating waste in the massive industry.
Trucker Path released a crowdsourcing navigational app for truckers in 2013, followed in 2016 by Truckloads, an online marketplace specializing in connecting freight companies and carriers. The main Trucker Path app (iOS & Android) provides information for truck drivers such as locations of truck stops, weigh stations, and nearby truck parking.