TruckerCloud has partnered with and received an investment from Rule 1 Ventures. Spencer Mitchell has been named CEO.
Freight Visibility Software Innovator TruckerCloud is Poised for Growth with New Leadership & Resources
Atlanta, GA (October 18, 2021) - TruckerCloud announced today that it has partnered with and received an investment from Rule 1 Ventures. Spencer Mitchell, an entrepreneur and former PwC consultant, has been named Chief Executive Officer.
TruckerCloud is a transportation industry technology leader with patent-pending software that allows shippers, brokers, carriers, and factors to view the location of trucks in real-time or retroactively. Freight loads can be seen either on a breadcrumb trail map in TruckerCloud’s platform, or location data can be imported into a TMS, factoring software, or other system for easy viewing in one place without an additional login.
Rule 1 Ventures is a venture studio that co-founds companies with dynamic entrepreneurs, providing the people, processes, and resources to accelerate speed to market, value creation, and profitable growth.
Spencer Mitchell will lead TruckerCloud as CEO. “I’m looking forward to helping TruckerCloud scale,” said Spencer. “We’re a much more accurate load tracking method than cell phone-based systems, and we’re significantly more affordable than other ELD-based solutions on the market. Our solution will help all parties in a freight transaction to have more visibility and control over their shipments.”
Spencer was previously Director of Life Sciences Sales for Innovaccer, as well as Director of Clinical Partnerships for Deep 6 AI. Prior to that, he was a Consultant at PricewaterhouseCoopers. Spencer is also the Co-Founder of RightFit Counseling as well as the nonprofit Heads up for Harry. He holds a B.S. in Genetics from the Honors Program at the University of Georgia.
“We’re excited to partner with TruckerCloud,” reported Gary Buxton, General Partner and COO/CFO of Rule 1 Ventures. “We’ve got a deep history and development expertise in the transportation and logistics industry. TruckerCloud already offers unique functionality to the market, and our product roadmap plans to further revolutionize the industry in the near future.”
Rule 1 Ventures is currently investing development resources into automating more of TruckerCloud’s processes, including launching groundbreaking Instant Carrier Onboarding functionality. The venture studio is also providing product management, marketing, sales, customer success, finance, and legal services to TruckerCloud.
TruckerCloud is a freight visibility platform for shippers, brokers, carriers, and factors. Now you can view your trucks live or retroactively with our breadcrumb trail. Our single platform unifies ELD, TMS and 3PL data, so you’ll have real-time visibility into your freight’s location. Eliminate check calls, reduce detention charges, and delight customers with advance delivery alerts. Reduce risk, fraud, and incidences of double brokering. Instantly onboard the entire fleet and pay-as-you-go. More information about the Atlanta, Georgia-based company can be found at www.truckercloud.com.
Rule 1 Ventures is a venture studio that co-founds companies with dynamic entrepreneurs, providing the people, processes, and resources to accelerate speed to market, value creation, and profitable growth. Rule 1’s mission is to solve B2B inefficiencies through digitization and optimization of B2B transactions, particularly through API data integrations and artificial intelligence/machine learning. The studio focuses on SaaS (Software as a Service) startups in the fintech, transportation & logistics, security, and pharmacy industries. For more information, visit r1vs.com.