SemiCab reached $11M annualized transaction volume in January 2022
Ajish Kapoor · Trucking Software Goes $0 to $1.4m in 11 Months, $35m Valuation · Mar 9, 2022 · at 4:51
Ajish Kapoor is the founder and CEO of freight optimization platform SemiCab, discussing the startup's transaction volume growth with Nathan Latka.
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“When we look at January that we just finished we were somewhere in the, in excess of eleven million analyzed, right? So a good 25 to 30 X growth during this period.”
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More from Ajish Kapoor
SemiCab reached $11M volume raising strictly from industry angels, avoiding VCs
“We have not raised institutional capital till now. So we have raised capital from all kinds of professionals, from the supply chain space, from the technology and finance space.”
SemiCab generates $1,200 to $1,500 weekly additional revenue for truck drivers
“So for example, a truck in a week would drive 2800 miles and get paid for less than 2000 miles. We use it for about 2500 miles. So those 500 additional miles generate, let's say, 12 to 1500 dollars in additional revenue. We take a part of that. So we don't mak…”
SemiCab targets a 12.5% to 15% take rate margin
“We like to target the lower end of 12 and a half to 15% on that on that revenue that we bring in.”
SemiCab maintains a 99% load acceptance against a 50-70% industry standard
“In our case, we have to be, we have been able to maintain a good 99% plus load acceptance rate with every single one of our customers. Industry standard out there is somewhere between 50 and 70%.”
SemiCab rejects the dynamic pricing used by most digital freight platforms
“We have a fairly unique business model in that we
We don't go for transactional pricing and dynamic pricing that pretty much everybody in the digital freight space is bringing in.”
SemiCab targets mid-to-large carriers to build a virtual dedicated fleet
“Where we go is we don't really specifically go and try to find supply from the small to midsize carriers or owner operators. We want to bring in the mid to large carriers because we are trying to create a virtual dedicated fleet in there.”