“You can hop on our platform, rent a truck and be in it in a matter of minutes, which really allows businesses to scale up and scale down,” said Eberhard. It’s no surprise that e-commerce is one of the industries Fluid Truck has targeted. With e-commerce expected to continue to rise at a global 9.5% compound annual growth rate from 2020 to 2025, the demand for accessible trucks for hire might see correlative growth. That type of growth sounds promising, but the company did not provide a baseline, so it’s hard to judge scale. Founder and CEO James Eberhard told TechCrunch that revenue increased 100x in the last two years. The investment, its first external round, comes after rapid growth at the four-year-old company. Private equity firm Bison Capital led the round, with participation from Ingka Investments (part of Ingka Group, the main Ikea retailer), Sumitomo Corporation of Americas and Fluid Vehicle Owners. The Denver-based company said Tuesday it raised $63 million in a Series A funding round to expand its truck-sharing platform, which helps mid-mile and last-mile delivery companies remotely manage an on-demand rental fleet via web or mobile app. Now, it has the capital to help it get there. Fluid Truck has built an app-based platform that aims to take away the pain and cost of owning or leasing commercial vehicles, all while grabbing market share from established companies like Penske, Ryder and U-Haul.
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