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KeepTruckin Receives Strategic Business Investment from ITOCHU

September 10, 2019

SAN FRANCISCO--(BUSINESS WIRE)--Sep 10, 2019--

KeepTruckin, a leader in modern fleet management solutions, today announced a capital investment from ITOCHU Corporation that includes a strategic business alliance. KeepTruckin will use the funds to forward its commitment to creating innovative technology and apply advancements in machine learning to make the transportation industry safer and more efficient.

KeepTruckin is transforming fleet management by bringing the trucking industry online, serving more than 55,000 for-hire carriers and 250,000 vehicles. From reducing facility detention time to exonerating drivers in traffic accidents and streamlining regulatory compliance, KeepTruckin is broadening its services to help carriers manage their operations and grow their businesses. As one of the largest Japanese trading companies distinguished by its automotive and operations relationships, ITOCHU is partnering with KeepTruckin to build the future of freight.

This collaboration will see KeepTruckin’s innovative products and data science expertise combined with ITOCHU’s vast U.S. and overseas commercial networks. The strategic partnership will accelerate KeepTruckin’s business growth and reinforce ITOCHU’s vehicle/truck-sector product sales and financial and logistics capabilities.

“As transportation innovators in long haul and local transportation, we seek to invest in companies that understand the vision of what’s needed to transform an industry through innovative solutions with market-oriented perspective,” said Takanori Morita, Executive Officer, ITOCHU. “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.”

“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. “Itochu’s expertise aligns with our solutions and we’re excited to partner with Itochu to bring value to a broader set of customers and markets.”

ITOCHU’s investment in KeepTruckin includes a strategic business alliance to foster network growth, product distribution, and an open freight marketplace. As a Fortune 500 company, ITOCHU will align its global operational presence with KeepTruckin’s vision of modern fleet management.

About Itochu

ITOCHU is a leading trading company incorporated in Japan with annual revenue of approximately $100 billion across approximately 110 bases in 63 countries. It is engaged in domestic trading, import and export, and overseas trading of various products such as textiles, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investments in Japan and overseas. ITOCHU has been developing business with Silicon Valley companies since the 1980’s and promotes innovative technologies and business models globally. ITOCHU is listed on the Tokyo Stock Exchange.

About KeepTruckin

KeepTruckin is a comprehensive fleet management platform that consists of the KeepTruckin Electronic Logging Device (ELD), KeepTruckin Electronic Logbook App for iOS and Android, the KeepTruckin Smart Dashcam, and KeepTruckin Asset Gateway to seamlessly connect vehicles, drivers, and fleet managers. The KeepTruckin App Marketplace offers customers a catalog of customizable integrations that can improve operational efficiencies and increase productivity to save fleets money. KeepTruckin is trusted by over 55,000 for hire carriers and over 250,000 vehicles to make them more efficient, safe, smart and reliable. To learn more about KeepTruckin visit keeptruckin.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190910005409/en/

CONTACT: KeepTruckin Media Contact:

Lisa Charlebois

communications@keeptruckin.com

415-705-9859

KEYWORD: UNITED STATES NORTH AMERICA ASIA PACIFIC JAPAN CALIFORNIA

INDUSTRY KEYWORD: OTHER TRANSPORT TRUCKING RAIL MARITIME LOGISTICS/SUPPLY CHAIN MANAGEMENT AIR TRANSPORT MOBILE/WIRELESS OTHER TECHNOLOGY FLEET MANAGEMENT NETWORKS INTERNET HARDWARE AUTOMOTIVE DATA MANAGEMENT PUBLIC TRANSPORT TECHNOLOGY RETAIL SUPPLY CHAIN MANAGEMENT

SOURCE: KeepTruckin

Copyright Business Wire 2019.

PUB: 09/10/2019 04:00 AM/DISC: 09/10/2019 04:00 AM

http://www.businesswire.com/news/home/20190910005409/en

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