Who is CloudTrucks? Why do they have an $850 Million Valuation?

CloudTrucks, a startup that makes software for trucking entrepreneurs to manage their operations.

CloudTrucks thinks the so-called driver shortage has nothing to do with low-paying wages and unscrupulous dispatchers. Not to take lightly the number of over-regulation truckers have to endure if they decide to go the owner-operator route.

They believe that the main problem in the industry is not having enough help in getting your paperwork done. enter CloudTrucks, a website ( company) almost “Legalzoom & DAT Load Board like” that will hold your hand while you file your required paperwork to the man at the FMCSA.

According to Forbs.com: CloudTrucks announced Tuesday that it had raised $115 million in a Series B round led by Tiger Global and Menlo Ventures, with additional investment from freight forwarding startup Flexport. The raise brings the San Francisco-based startup’s valuation to $850.

Someone wants to cash in on all the administrative paperwork fleet owners have to endure.

The startup makes money by taking 6% to 15% of a driver’s earnings, depending on how many of its services are being used.

Documents Needed TO WORK WITH CloudTrucks

The following documents are needed from each driver in order to schedule their first load:

  • Truck Registration
  • Trailer Registration – if they have a trailer
  • Truck DOT Inspection – see requirements
  • Trailer DOT Inspection – if they have a trailer; see requirements
  • Medical Certificate
  • CDL A – current & past that show 3 year history
  • Occ Acc Certificate of Insurance – or enrollment in the Great America policy
  • Non-Trucking Liability Certificate of Insurance
  • Passenger Authorization – if they have a passenger
  • Employer Verification – if not verified through checkr; see requirements

Freight movement is expected to rise from 17.4 billion tons in 2015 to 25.5 billion tons by 2045, an increase that coincides with a decrease in truck drivers. – techcrunch