KARACHI: KeepTruckin, the leader in fleet management technology, has announced that it has raised $190 million in new funding from G2 Venture Partners, Index Ventures, Greenoaks, IVP, Scale Venture Partners, funds managed by BlackRock, and several other leading investors.

The round values KeepTruckin at over $2 billion. The new capital will support KeepTruckin’s strategic priorities by allowing it to continue building innovative AI-powered products, recruiting top-tier talent, and scaling rapidly to meet the needs of businesses that power the physical economy.

Founded by the Pakistani-American Shoaib Makani, KeepTruckin’s 400,000-strong network of connected vehicles is one of the largest in North America.

The company equips customers with cutting-edge hardware and software that leverages the latest advancements in AI and computer vision to solve a broad range of problems for businesses, including video-based driver safety, GPS tracking, ELD compliance, vehicle maintenance and fuel spend management.

“Today, more than 90,000 companies and one million drivers depend on our technology to improve the safety and efficiency of their operations,” said Shoaib Makani, CEO of KeepTruckin. “Over the past year, our customers have grown their fleets by 21%, and with our Series E funding, we are now well-positioned to grow alongside them by investing in talent and technology to better serve all businesses that power the physical economy.”—PR

Copyright Business Recorder, 2021