On-demand Trucking App Development: How Convoy, The Uber for Trucks, Has Raised $185M at $1B Valuation With These 3 Simple Strategies

0
Shares
On-demand Trucking App Development: How Convoy, The Uber for Trucks, Has Raised $185M at $1B Valuation With These 3 Simple Strategies
4 (80%) 2 votes

Convoy-App1

This blog includes information for trucking startups & entrepreneurs. Read on these three simple strategies by Convoy, on-demand trucking app. Let’s check out what’s inside?

The trucking industry is booming. And, the trucking tech startups are also on the track of generating more funds. According to the report from American Trucking Associations (ATA), the revenue of U.S. trucking industry topped $700 billion in 2017. It represents a 3.5% increase compared with the previous year, and the industry generated $676.2 billion.

Furthermore, the trucking sector moved 10.77 billion tons of freight that are 70.2% of all domestic tonnage and compares with 10.42 billion tons and 70.6% in 2016.

The Market Overview

Trucking Tech Annual Global Financing History: In general, trucking tech startups focus on freight trucking, fleet management solutions, onboard monitoring, tracking systems, and trucking-focused ERP (Enterprise Resource Planning) systems.

  • Trucking tech startups have secured $583 million across 33 deals in the year of 2017.
  • On annual basis, both the total annual fundings and 2017 deal activity were on track in order to surpass the records of 2016 with dollars on pace to top the $1 billion mark.
  • Since 2013, the deal activity has marched continuously upwards.

Startups-Market-Map

The Supply Chain & Logistics Tech Market Map: There are tech companies, which are disrupting the supply chain and logistics that you can see in this image.

Top-Logistics-Startups

Well, there is an on-demand trucking app, Convoy, which is known as the “Uber” of trucking. According to the latest report from TechCrunch, “The on-demand trucking app, Convoy, has raised $185 million in Series C round of funding, led by CapitalG, the growth equity arm of Alphabet Inc..”

Convoy: The Uber of Trucks

Launched back in 2015 in Greater Seattle Area, U.S., Convoy is a network of a tech-enabled trucking company, transforming $800 billion trucking industry and logistics ecosystem for truck drivers and shippers. Well, the round has brought Convoy’s total raised to $265 million and values the company at $1 billion valuations. Moreover, the new investors are T. Rowe Price and Lone Pine Capital.

App-like-Uber-for-Trucks
Image Source: convoy

  • With the total funding amount of $265.5M, Convoy, the Uber for trucks, matches reliable trucks or carriers with companies, which need to ship freight.
  • The Uber of truck, Convoy, allows its app users to find loads as they want, save time, drive fewer miles empty and get paid quickly.
  • Shippers use Convoy’s data-driven insights and industry-leading service levels to enhance their supply chain operations and lower costs.
  • In 2017, Y Combinator led a $62 million round in Convoy and it was the first time the accelerator deployed capital from its continuity fund into a late-stage company. Talking about the investors of Convoy, Salesforce CEO Marc Benioff, Dropbox CEO Drew Houston, Bezos Expeditions and former Starbucks president Howard Behar are Convoy investors.
  • Convoy was founded by a pair of former Amazonians, Dan Lewis, and Grant Goodale.
  • In simple words, Convoy connects truckers with people who need freight moved. With the new funding, Convoy will expand nationwide and move beyond mere freight matching.
  • According to the latest report from SimilarWeb, an app like Uber for trucks, Convoy’s Google Play rank is #142. This is what you can see in the image.

Convoy-App-SimilarWeb

  • According to the latest report from App Annie, the download rank of Convoy app is varied in between 217 to 225.

Convoy-App-Annie

Moving ahead, and let us know the three simple strategies, which are behind the success of the on-demand trucking app, Convoy,

3 Simple Strategies Startups Need to Consider Before Developing an On-demand Trucking App like Convoy

1. Provide Solutions to Help Truckers to Spend Less Time & Get More Outcomes

An app like Uber for trucks, Convoy, allows its app users to find the loads and book them instantly and without any hassle. Convoy helps to grow app users’ business and keep trucks full on the lanes as what they like to run. To make trucking more efficient and easier for truckers (or carriers) and shippers, it is important to provide such solutions.

Convoy-App-1Image Source: convoy

The company has analyzed the problems of their shippers or carriers to know the issues while trucking the loads. So, Convoy has analyzed the issues and help them to keep their trucks full and find loads easily on the lanes as they want to run.

To make it easier for truckers, there is a feature, which carriers can use by opening the Convoy app and finding loads using search, request a load or customized recommendations. In short, to make things simpler and more efficient for carriers or truckers, you as a startup trucking company need to provide solutions, which can add value into their lives.

If you would like to create Uber for trucks app like Convoy, then you need to provide solutions to your customers that help them to earn more without wasting time.

2. Proffer Access to Shippers in order to Track Vehicles and Pricing Data

The next pivotal thing is to provide your app users or shippers give access to tracking goods in real-time and they can see the pricing data. It is important to provide solutions to shippers, where they can easily track the real-time location of trucks. To make trucking seamless for your app users (shippers), you as a startup need to provide such solutions, which can help them to identify the location of every vehicle in real-time.

On-demand-trucking-app

Being a startup or entrepreneur, if you would like to develop a mobile app like Uber for trucks, then you need to provide features to your customers, which can make loadings easier than ever. In addition, you just need to take care of providing a slew of important features while developing mobile app under the category of “on-demand trucking app”.

3. Provides Solutions to Both Shippers & Carriers

As you may know that there are two components of on-demand trucking app convoy as in one for shipper’s side and the second is for the carrier’s side. One thing is cleared that you need to include basic app features while developing an on-demand trucking app like Convoy. For the carriers or truckers, you can include the following features:

  • Allows finding relevant loads, view prices, and book loads.
  • Allows to receive real-time job notifications and electronically upload BOL (Bill of Lading).
  • Truckers get paid on time once the job completed.
  • Allows to access freight from some of the best shippers around.

On-demand-trucking-App-Development

Image Source: convoy

Talking about the shippers, then they would use the on-demand trucking app to book trucks for themselves. So, the following features can be considered while developing an on-demand Convoy trucking app:

  • Allows shippers or users to do shipment requests
  • Let app users or shippers upload the documents
  • To check the trucks nearby
  • In-app payment
  • Multi-lingual support
  • GPS Real-time tracking
  • Cross-platform ability
  • Ratings and reviews to the truckers

Therefore, being a trucking startup company, if you are planning to create freight finder app, then you need to provide solutions for both shippers and truckers or carriers in terms of features in the mobile app.

Wrapping it Up

If you have ever thought of creating an on-demand trucking app like Convoy, then it is a high time to develop to enter in the market. This is due to the fact that trucking industry revenue topped $700 billion in the year 2017, as per the report from ATA (American Truck Association). Well, there are no signs of slowing it down.

If you have got any idea on Uber for trucks in your mind, then you can cross-verify it with us as we are a leading mobile app development company and have already developed over 60 on-demand solutions and 50 Uber-like apps with diverse features and functionalities.

In case, if you still have any query or confusion regarding on-demand trucking app development or how much does it cost to develop an app like Uber for trucks, then you can get in touch with us through our contact us form. One of our sales representatives will revert to you within 48 hours. The consultation is absolutely free of cost.

You may also like:

This page was last edited on September 26th, 2018, at 0:38.
 
0
Shares
 

Have an App Idea?

Get your free consultation now