TrueNorth is a San Francisco-based platform that provides independent truck drivers tools to manage customers, find, book, and coordinate loads, optimize routes, invoice customers, and collect payments. The platform also offers fleet cards that can be used as fuel and debit cards and provides support for meeting DOT Safety and other regulatory requirements. Led by CEO and co-founder Jin Stedge, TrueNorth participated in Y Combinator in 2020. The company has seen strong organic customer growth in the two years since its founding and intends to use the new funds to further invest in its platform. It has raised $61.8M in total funding to date. In the last six months the company grew revenue 3.4x, improved its contribution margin by 64%, and expanded headcount by 67%. TrueNorth offers a platform that helps independent truckers streamline routing, billing, paperwork and other moving parts of running their own operations. The product consolidates and optimizes data from devices like Samsara to track location, hours of service, mileage reports and fleet-safety signals. The company targets owner-operators rather than drivers who work for large fleets. Co-founded by Jin Stedge and Sanjaya Wijeratne, TrueNorth graduated from Y Combinator and draws on Stedge’s family trucking background to inform its product. Financially, the company raised $600,000 during YC and has closed a $3M seed at a $15M valuation. TrueNorth plans to use the capital to build out its development team and hire three to four more people as it accelerates product work amid market volatility. TrueNorth, founded by Jin Stedge and Sanjaya Wijeratne, builds a software-backed platform to give independent truckers access to insurance, fuel, maintenance, route optimization, load coordination, and dispatch. The company does not lease trucks; instead it offers large-fleet resources while preserving driver independence and charging a lower take rate enabled by its back-office software. Stedge drew on personal family experience in trucking and says much of the industry still relies on calls and mail and has clunky or predatory financial tools. Wijeratne and Stedge previously worked at Scotty Labs, among other roles. TrueNorth is part of Y Combinator's winter batch. The company has raised $600,000 from a group of investors as it builds out its product and go-to-market.

Total raised

$54M

Funding rounds

3

Latest round

Series B

Latest activity

Dec 2021