SAN FRANCISCO, Calif. – U.S. fleet management solutions provider KeepTruckin has received “a strategic business investment” from ITOCHU Corp. of Japan, the company announced Tuesday.
No financial details were revealed.
KeepTruckin said it will use the funds to forward its commitment to creating new technologies.
The collaboration will see KeepTruckin’s innovative products and data science expertise combined with ITOCHU’s vast U.S. and overseas commercial networks.
The partnership will accelerate KeepTruckin’s business growth and reinforce ITOCHU’s vehicle/truck-sector product sales and financial and logistics capabilities.
“KeepTruckin is a proven leader in the North American trucking industry. We’re excited to partner with them as they build an open freight marketplace that leverages the connectivity and data unlocked by its market-leading fleet management platform,” said Takanori Morita, executive officer at ITOCHU.
ITOCHU is a leading trading company with annual revenues of $100 billion.
“ITOCHU is a powerhouse in the transportation logistics space, and their investment in KeepTruckin underscores the importance of bringing intuitive tools to the trucking industry,” said Shoaib Makani, CEO and co-founder, KeepTruckin.