Penske
2675 Morgantown Rd, Reading, PA, 19607, United States
Overview
Penske Truck Leasing is a transportation company. They provide truck fleet rental and leasing, and contract maintenance solutions. They specialize in providing transportation services. They also provide truck leasing, contract fleet maintenance, commercial rentals, consumer truck rentals, and used truck sales.
- Total investments
- 3
- Lead investments
- 0
- Investments · 12mo
- 1
- Active investors
- 1
Sector focus
- Financial Services
- Leasing
- Rental
Investment portfolio
- Terminal
Participated · Series A · Jul 2026
Terminal provides a unified telematics integration platform and API that connects to more than 325 telematics service providers, validating incoming data with AI-powered quality checks, managing consent, and normalizing diverse formats into a consistent schema. Its platform covers GPS location, safety events, fault codes, vehicle statistics and dash camera media, enabling customers to access real-time and historical telematics without building individual integrations. Customers include commercial auto insurers, Fortune 500 fleet management and logistics companies, and financial services firms; Terminal reports multi-year deals with major insurers and says its solution can enable up to 20% savings on premiums for safe driving behavior. The company was founded in 2023, participated in Y Combinator Summer 2023, and is headquartered in Toronto. Terminal has raised $26 million in total funding and is using recent capital to expand its enterprise footprint and deepen provider partnerships across its core markets.
- Ridecell
Participated · Series B · Nov 2018
Ridecell offers a data insights and workflow automation platform that enables fleets, motor pools, and trucking and logistics companies to deliver a safe driver experience and 24/7 self-service operations without retail staff or brick-and-mortar locations. Its product includes APIs, an SDK, a real-time data platform, and pre-integrated partner solutions to manage fleet data, workflow automation, and vehicle access. The platform aims to reduce risk and operational expenses for fleet providers through automation and digitization. Ridecell plans to use the new funding to accelerate international growth, support larger customers globally, and extend its core automation and digitization capabilities. Recent customers include Penske, Toyota Sweden, Renault, and AAA, which have used the platform to automate and digitize services. The company is led by CEO Aarjav Trivedi and operates globally with offices in San Francisco, Madrid, Paris, Berlin, and Pune. Ridecell offers a cloud-based mobility engine that tracks fleet locations, maintenance schedules, and usage insights for car-sharing, ride-sharing, and ride-hailing operators. Its platform is used by more than 20 customers including UCSF, 3M, SouthWest Transit, BMW, Groupe Renault, Ferrovial, and AAA Northern California. The company has processed over 25 million rides and rentals covering more than 20 million miles and employs over 120 people across offices in the U.S., Europe, Asia, and Australia. Ridecell acquired Auro Robotics in 2017 and supports driver-operated and autonomous on-demand services with a single platform. It has obtained permits to operate driverless shuttles on public roads in California and is expanding into autonomous fleet management and has applied for an e-scooter permit in San Francisco. Altogether, Ridecell has raised more than $70 million to date. Ridecell provides an intelligent software platform for new mobility operators—OEMs, car rental companies, auto clubs, cities, transit agencies, dealer groups, and private fleets—to launch, expand and operate carsharing, ridesharing, and autonomous fleet services. The company powers services such as ReachNow (BMW Group), ZITY (Groupe Renault and Ferrovial), and GIG Carsharing (AAA), and runs dynamic shuttle services for campuses and transit agencies including Georgia Tech, UC Berkeley, UCSF, 3M and SouthWest Transit. Ridecell has processed over 20 million rides and rentals and employs more than 100 professionals across the US, Europe, Asia and Australia. The product focus is on end-to-end orchestration and operations for shared and autonomous fleets. Led by CEO Aarjav Trivedi, the company was founded in 2009 and is based in San Francisco, CA. The article does not disclose specific revenue figures. RideCell builds fleet-management software described as an operating system for car-sharing, ride-sharing, fixed-route and dynamic transit services. The platform tracks vehicle locations, battery status, maintenance needs and other operational signals to optimize fleet utilization. The company pivoted from an original ride-hailing concept to focus on managing human-driven and future autonomous fleets. Customers include UC Berkeley, USC, 3M and the Santa Clara Valley Transportation Authority, which uses RideCell to reduce empty runs. RideCell’s tech is powering BMW’s ReachNow launch in Seattle, helping BMW operate and incentivize use of its 3 Series, Mini Cooper and i3 fleet. Financially, RideCell closed an $11.7 million Series A and has raised $17 million in total.
Team
Roger Penske
Founder&CEO