Today is a special day @CloudTrucks as we make two major announcements - our $20.5M Series A led by @caffeinatedcap and the launch of a first of its kind payments product, CTCash - https://stories.cloudtrucks.com/stories/cloudtrucks-raises-20-5m-in-series-a-and-launches-ct-cash?utm_campaign=funding-ct-cash&utm_source=twitter&utm_medium=social&utm_content=tobenna-post-personal . I would also like to share a bit of how it came together (thread )

We launched the CloudTrucks app in May, as the covid crisis was worsening. We had no idea if Truckers would trust a “random” tech company that they had never met, to manage their entire business (we previously intended to launch with an in person truckstop tour)

After we launched, a few things became clear -
1. We had kernels of the right product
2. Data science could unlock tremendous earnings value for drivers
3. Payments in the trucking world is an absolute mess
4. Drivers value simplicity (consumer grade products are critical)

Given our learnings from our initial customers, we doubled down, put our heads down and continued to ship delightful features at a fast clip (thanks to the amazing team!)

6 months later, CloudTrucks had built something special. We completed $1.8M in transactions, >300 long-haul deliveries a month and are growing 40% month over month

For our series A, we met a number of investors, all over Zoom. It was a grueling process with back-to-back video calls from very early in the morning to late at night. Thankful to all investors who met us through the process and provided feedback.

Special thanks to @nlevchin who introduced me to @tonsing and suggested that we would both hit it off. And she was so right! It’s been an absolute pleasure working with Ray and the entire team @caffeinatedcap

Also, thanks to all of our existing investors who decided to heavily participate in the round - @craft_ventures @khoslaventures @KindredVentures @AbstractVC @btv_vc @SciFiVC . Happy to be afforded the opportunity to continue to build delightful products for our customers.

It’s still early days and there’s so much to build. Back to work