September 25, 2018
This blog includes information for trucking startups & entrepreneurs. Read on these three simple strategies by Convoy, on-demand trucking app. Let’s check out what’s inside?
The rise of the trucking industry is booming. And, the trucking tech startups are also on the track of generating more funds. According to the report from American Trucking Associations (ATA), the revenue of U.S. trucking industry topped $700 billion in 2017. It represents a 3.5% increase compared with the previous year, and the industry generated $676.2 billion.
Furthermore, the trucking sector moved 10.77 billion tons of freight that are 70.2% of all domestic tonnage and compares with 10.42 billion tons and 70.6% in 2016.
The Market Overview
Trucking Tech Annual Global Financing History: In general, trucking tech startups focus on freight trucking, fleet management solutions, onboard monitoring, tracking systems, and trucking-focused ERP (Enterprise Resource Planning) systems.
- Trucking tech startups have secured $583 million across 33 deals in the year of 2017.
- On annual basis, both the total annual fundings and 2017 deal activity were on track in order to surpass the records of 2016, with dollars on pace to top the $1 billion mark.
- Since 2013, on an annual basis, the deal activity has marched continuously upwards.
The Supply Chain & Logistics Tech Market Map: There are tech companies, which are disrupting the supply chain and logistics in the below image.
Well, there is an on-demand trucking app, Convoy, which is known as the “Uber” of trucking. According to the latest report from TechCrunch, “The on-demand trucking app, Convoy has raised $185 million in Series C round of funding, led by CapitalG, the growth equity arm of Alphabet Inc..”
Convoy: The Uber of Trucks
Launched back in 2015, Convoy is based in Greater Seattle Area, the U.S., and Convoy is a network of tech-enabled trucking companies transforming $800 billion trucking industry and logistics ecosystem for truck drivers and shippers. Well, the round has brought Convoy’s total raised to $265 million and values the company at $1 billion valuations. Moreover, the new investors are T. Rowe Price and Lone Pine Capital.
Image Source: convoy
- With the total funding amount of $265.5M, Convoy, the Uber for trucks, matches reliable trucks or carriers with companies, which need to ship freight.
- The Uber of truck, Convoy allows its app users to find loads as they want, save time, drive fewer miles empty and get paid quickly.
- Shippers use Convoy’s data-driven insights and industry-leading service levels to enhance their supply chain operations and lower costs.
- In 2017, Y Combinator led a $62 million round in Convoy and it was the first time the accelerator deployed capital from its continuity fund into a late-stage company. Talking about the investors of Convoy, Salesforce CEO Marc Benioff, Dropbox CEO Drew Houston, Bezos Expeditions and former Starbucks president Howard Behar are Convoy investors.
- Convoy was founded by a pair of former Amazonians, Dan Lewis, and Grant Goodale.
- In simple words, Convoy connects truckers with people who need freight moved. With the new funding, Convoy will expand nationwide and move beyond mere freight matching.
- According to the latest report from SimilarWeb, an app like Uber for trucks, Convoy’s Google Play rank is #142. This is what you can see in the image.
- According to the latest report from App Annie, the download rank of Convoy app is varied in between 217 to 225.
Moving ahead, and let us know these three simple strategies, which are behind the success of the on-demand trucking app, Convoy,
3 Simple Strategies Startups Need to Consider Before Developing an On-demand Trucking App like Convoy
1. Provide Solutions, Helping Truckers to Spend Less Time & Get More Outcomes
An app like Uber for trucks, Convoy allows its app users to find the loads and book them instantly and without any hassle. Convoy helps to grow app users’ business and keep trucks full on the lanes as what he/she likes to run. To make trucking more efficient and easier for truckers (or carriers) and shippers, it is important to provide such solutions to help truckers or carriers.
Image Source: convoy
The company has analyzed the problems of their shippers or carriers to know the issues while trucking the loads. So, Convoy has analyzed the issues and help them to keep their trucks full and find loads easily on the lanes as they want to run.
To make easier for truckers, there is a feature, which carriers can start by opening the Convoy app and finding loads like using search, request a load or customized recommendations. In short, to make things simpler and more efficient for carriers or truckers, you as a startup trucking company need to provide solutions, which can add value into their lives.
If you would like to create Uber for trucks app like Convoy, then you need to provide solutions to your customers, where they can earn more without wasting time.
2. Proffer Access to Shippers in order to Track Vehicles and Pricing Data
The next pivotal thing is to provide your app users or shippers to give access to tracking goods in real-time and they can see the pricing data. It is important to provide solutions to shippers, where they can easily track the trucks live. To make trucking seamless for your app users (shippers), then you as a startup need to provide such solutions, which can help them to identify the location of every vehicle in real-time.
Being a startup or entrepreneur, if you would like to develop mobile app like Uber for trucks, then you need to provide features to your customers, which can make trucking and loadings easier more than ever. In addition, you just need to take care of providing a slew of important features while developing mobile app under the category of “on-demand trucking app”.
3. Provides Solutions to Both Shippers & Carriers
As you may know that there are two components of on-demand trucking app convoy as in one for shipper’s side. And, the second is for the carrier’s side. One thing is cleared that you need to include basic app features while developing an on-demand trucking app like Convoy. For the carriers or truckers, you can include the following features:
- Allows to find relevant loads, view prices and book loads
- Allows to receive real-time job notifications and electronically upload BOL (Bill of Lading)
- Truckers get paid within days of job completion within the app
- Allows to access freight from some of the best shippers around
Image Source: convoy
Talking about the shippers, then they would use the on-demand trucking app to book trucks for themselves. So, the features can be the following, which you can consider while developing an on-demand Convoy trucking app:
- Allows shippers or users to do shipment requests
- Let app users or shippers upload the documents
- To check the trucks nearby
- In-app payment
- Multi-lingual support
- GPS Real-time tracking
- Cross-platform ability
- Ratings and reviews to the truckers
Therefore, being a trucking startup company, if you are planning to create freight finder app, then you need to provide solutions for both shippers and truckers or carriers in terms of features in the mobile app.
Wrapping it Up
If you have ever thought of creating an on-demand Convoy trucking app, then it is a high time to develop an app like Uber for trucks. This is due to the fact that trucking industry revenue topped $700 billion in the year 2017, as per the report from ATA (American Truck Association). Well, there are no signs of slowing it down. It is also forecasted that the trucking sector is going to flourish in the future as well.
If you have popped any idea on Uber for trucks in your mind, then you can cross-verify it with us as we are a leading mobile app development company and have already developed over 60 on-demand solutions and 50 Uber-like apps with diverse features and functionalities.
In case, if you still have any query or confusion regarding on-demand trucking app development or how much does it cost to develop an app like Uber for trucks, then you can get in touch with us through our contact us form. One of our sales representatives will revert to you within 48 hours. The consultation is absolutely free of cost.
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This page was last edited on September 25th, 2018, at 9:17.
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