Fleeting

New York, NY, US

Angel / Pre-seed stage Generating Revenue Automotive & Transportation » Trucking

Business Details

Fleeting connects class A+B CDL drivers to motor carriers for scheduled, on-demand, and temporary transportation needs.

Industry
Landscape

Truck drivers are responsible for moving 71% of all goods across the country. With 3.5 million drivers in the USA there is a $210B/year addressable market size in the US for trucking staffing companies. In the northeast region alone the market size is $13B.

The
Problem

The industry has an issue attracting and retaining drivers. Life expectancy of a truck driver is 61, 70% suffer serious health problems, and the average pay is $14/hr.

Trucking companies have dealt with a 90% annualized turnover rate for drivers over the past year, which results in 45% fleet utilization and direct and indirect hiring costs of $10k+ per driver.

The
Solution

Our marketplace provides vetted truck drivers to trucking companies. We keep their trucks moving.

By allowing our drivers the opportunity to choose when they work and who they work for, we improve working conditions for drivers.

Carriers who source drivers through us can be assured that they will have a driver that meets their qualifications when they need it most, whether to cover workers calling out or meet seasonal spikes in demand without growing their full time work force.

Business
Model

We charge carriers an hourly rate of $40+ and pay drivers $25-$30 based on qualifications. After insurance costs we target a 25% gross margin.

Our core target clients operate 50+ tractors and are private fleets eg:(Coca-Cola, Pepsi - US Foods, Driscoll's)

We have gained traction with a pilot client and are seeking 1.5MM in a seed round in order to invest in Driver/Carrier acquisition and product development over the next 18 months.