The truck management technology received the funding in a series B round backed by Flexport at an $850m valuation.

Freight forwarder Flexport took part in a $115m series B round for US-based trucking efficiency software provider CloudTrucks yesterday valuing it at $850m.

Investment firm Tiger Global Management led the round, which included venture capital firm Menlo Ventures in addition to Michael Ovitz, founder of talent agency CAA, and Eric Wu, chief executive of online real estate portal Opendoor.

CloudTrucks provides artificial intelligence-equipped tools covering areas like schedule optimisation, rapid payment and paperwork automation to help trucking businesses run more…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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