AI Fleet, a tech-powered trucking company
AI Fleet is a technology-first logistics company, leading disruption of the $400 billion-dollar full truckload trucking market. Based in Austin, Texas with a tech team in Budapest, Hungary, the company launched in 2020, and growing fast due to its cutting edge AI technology and new business model. They have hired more than a 100 employees. Their Annual Recurring Revenue is $60+ million (and counting). Their operation is now characterized by stability, and their technology has also matured for the current period; no more firefighting.
The trucking industry has its own problems: truck drivers spend most of their time waiting (which no one pays for), hence driver utilization is under 50%, while fluctuation is high (around 90%) and wages are low. High turnover is a result of low utilization and inefficiencies.
AI Fleet is obsessed with the happiness and wellbeing of their drivers. They guarantee drivers that they will be home for the weekend, or wherever they want to be, and also guarantee a base minimum pay with an incentive system based on milage rather than get paid by the load. This new model supports diversity as well: third of their drivers are women.
Low utilization is the source of every problem, and AI Fleet is solving that by proprietary technology that automates order flow and load planning, while driver-centric AI algorithms help driving up the revenue per truck.
The company closed $57 million funding up-to-date that they are affording to scaling and improving technology.
If you want to read more about the company click here or here.