# TrueNorth Transportation Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/truenorth-transportation

- Industry: Software
- Headquarters: Midland, US
- Website: www.truenorthfleet.com
- Total disclosed funding: $50M
- Latest round: Series B (Dec 8, 2021)
- Investors on record: 7

## About

TrueNorth Transportation Co. specializes in creating logistics solutions for the trucking industry, featuring a unique platform that combines a free loadboard with a virtual dispatcher to enhance operational efficiency for carriers.TrueNorth Transportation Co. was established in 2019 in Midland, US, focusing on providing innovative logistics solutions for the trucking industry. The firm has successfully raised USD 50.00 mn in its SERIES B funding round on December 8, 2021, supported by investors including 137 Ventures and Fifth Down Capital. The company is co-founded by Jin Stedge, who also serves as CEO, alongside Sanjaya Wijeratne.TrueNorth offers a comprehensive platform primarily designed for carriers in the trucking industry, distinguished by its innovative approach combining a free loadboard and a virtual dispatcher, known as Loadie. This dual functionality streamlines the logistics process by allowing truckers to search through a daily inventory of over 100,000 loads while automating back-office operations. The platform facilitates the formation of relationships between carriers and brokers, enhancing operational efficiency and communication within the freight ecosystem. TrueNorth's services cater to a diverse client base that includes independent truckers and small to medium-sized trucking companies operating primarily within the United States and Canada, with an emphasis on providing accessible tools that empower users to maximize their productivity and minimize administrative burdens.TrueNorth's revenue model is structured around a combination of subscription services and transactional fees associated with its loadboard and virtual dispatcher. The company engages in direct B2B transactions, where carriers subscribe to access Loadie for enhanced operational support and efficiency. Clients may pay fees based on the number of loads booked or through a fixed monthly subscription that grants unlimited access to the loadboard and dispatching services. The integration of Loadie into the loadboard experience suggests a value proposition aimed at reducing paperwork and administrative overhead, thereby driving customer satisfaction and retention within the trucking sector.TrueNorth plans to utilize its recent funding of USD 50.00 mn from the SERIES B round to enhance its platform, focused on helping truckers manage their business more effectively. The company is also looking at potential expansions into new regional markets within North America, although specific target dates and locations have not been disclosed. Continued investment in product development will support these initiatives, aimed at increasing the platform's capabilities.

## Funding rounds

- Series B, Dec 8, 2021, $50M — 137 ventures, Tribe Capital, Karman Ventures, K5 Global, Original Capital, Fifth Down Capital, Flexport, Inc

## Investors

- 137 ventures (https://capitalatlas.ai/funds/137-ventures) — Series B
- Tribe Capital (https://capitalatlas.ai/funds/tribe-capital) — Series B
- Karman Ventures (https://capitalatlas.ai/funds/karman-ventures) — Series B
- K5 Global (https://capitalatlas.ai/funds/k5-global) — Series B
- Original Capital (https://capitalatlas.ai/funds/original-capital) — Series B
- Fifth Down Capital — Series B
- Flexport, Inc — Series B