NEXT Trucking is only one month into 2018 and we already have great news. Today, we announced $21 million series B round of funding led by Sequoia Capital. As well, the VC’s partner, Omar Hamoui is joining our Board of Directors. Omar’s mobile ad platform AdMob was sold to Google in 2009 for $750 million, and Sequoia Capital was one of the first investors in the platform.
We’re so proud of all we’ve been able to do in only two years. We’re a scrappy team. Even so, we have tripled our revenue year over year. And, our retention rates, on both sides of the marketplace, are through the roof.
(Pictured above: Lidia Yan, Co-Founder and CEO and Elton Chung, Co-Founder)
But we’re not resting on our laurels. The funding will go toward hiring the best in the business. Operations and product development will continue to empower the truckers and create a massive virtual fleet of the highest quality independent carriers. Now we will have more ears listening carefully to all parties involved in the supply chain and more engineers and developers working to find ways to solve the crisis brewing with capacity. Our growing team is set on building the best marketplace platform to mitigate reasons behind truckers walking away from their rigs and younger people not entering the field.
You can read the entire press release that covers the Series B funding, you’ll find it here.
If you’re a driver and you’re looking for easy booking, full transparency, earning 15 percent more on average, and so much more sign-up here. It’s the first step in making a difference in your life.
For the shippers looking for vetted drivers, capacity relief and benefit from the best rates, let us know here.
While we’ve made great strides to-date, we have a mission. Our driver-centric marketplace will continue to positively impact the transportation industry. Stay tuned. Lots more news to come.