FourKites raises $35 million as trucking turns to Big Data
FourKites, a fast-growing software provider to companies that ship goods by truck, has raised another $35 million.
It's a big haul for the company, which raised $13 million from Bain Capital Ventures in 2016. FourKites is riding a wave of customer growth, as well as an acceleration from trucking customers demanding real-time information about shipping. Part of that comes from an increase in two-day and same-day delivery from e-commerce companies such as Amazon. But another catalyst is a new federal law that requires U.S. truck drivers to use electronic devices to log how much time they're spending behind the wheel. FourKites integrated its software into such devices.
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