driverDOC Company Profile

Background

Company Overview

Founded in 2019 and headquartered in Omaha, Nebraska, driverDOC is a supply chain technology company dedicated to enhancing the logistics sector by digitizing and automating traditional manual processes. The company's mission is to inspire, motivate, and transform the supply chain ecosystem through innovative solutions that promote full-scale autonomy and automation. By focusing on the driver experience, driverDOC aims to simplify logistics operations, reduce reliance on paper documentation, and improve overall efficiency within the supply chain.

Key Strategic Focus

Core Objectives and Specialization

driverDOC specializes in providing a cloud-based platform that automates freight visibility, estimated time of arrival (ETA) calculations, and driver detention management. The platform captures real-time, high-quality documents organized by load number, facilitating immediate and streamlined invoicing. By reducing the industry's dependence on emails, texts, and phone calls for basic communication and driver updates, driverDOC offers a safer, more efficient, and collaborative approach to freight and document visibility. The company's solutions are inclusive of the entire supply chain, starting with the driver and extending key data and documents accessibility to the back office.

Financials and Funding

Funding History

January 2021: driverDOC secured a $400,000 seed funding round led by The Pearl Fund, with additional co-investments from angel investors. The funds were intended to accelerate growth for its cloud-based platform, available on Android and iOS.

July 2023: The company raised an additional $1 million in a seed funding round, bringing the total funding to $1.4 million.

Revenue

In 2023, driverDOC reported an annual revenue of approximately $475,200, reflecting a year-over-year growth of 2.8%.

Technological Platform and Innovation

Proprietary Technologies

driverDOC's platform offers a comprehensive and fully digital Bill of Lading (BOL) process, enabling users to create, manage, and share electronic and digital BOLs. This facilitates a downstream digital signature process compliant with legal and Department of Transportation (DOT) standards.

Key Features

Accessibility: All BOL shipment parties have access and event notifications in real time.

Safety & Security: Enhanced security measures prevent fraud and protect data.

Efficiency: Eliminates paper, manual data entry, and reduces wasted time in BOL and driver check-in processes.

Sustainability: Reduces paper usage and lowers carbon footprint through digital BOL processes.

Use Cases

Shippers: Maximize efficiency and compliance with a paperless BOL process, streamline check-ins, and ensure accurate bill reconciliation with real-time updates.

Carriers: Simplify workflows by removing paper from drivers, ensuring DOT compliance, and reducing downtime with instant updates on dock assignments and appointments.

Receivers: Enhance efficiency by automating BOL processes, reducing documentation errors, and eliminating delays with real-time updates.

Leadership Team

Key Executives

Josh Kolar: Co-Founder, Chief Executive Officer, and Board Member. Josh brings over a decade of experience in the transportation and financial data management industries, with past roles at companies including UPS, Union Pacific, Werner, and KPMG.

Julia Kolar: Co-Founder, Chief Financial Officer, and Board Member.

Competitor Profile

Market Insights and Dynamics

The logistics and supply chain management industry is experiencing significant growth, driven by the increasing need for digital transformation and automation. Companies are seeking solutions that enhance efficiency, reduce costs, and improve data accuracy.

Competitor Analysis

driverDOC operates in a competitive landscape with several key players offering similar solutions:

YunLSP: Develops cloud collaboration systems and tools for logistics enterprises, including manifest systems and intelligent freight forwarding systems.

ViaCorex: Provides eProcurement solutions that offer more control over spending.

Mile: Offers a web-based platform and mobile apps for tracking and managing fleets, optimizing routes, and automating delivery and logistics operations.

Lavante: Specializes in vendor portal software, supplier onboarding, and supplier information management.

Strategic Collaborations and Partnerships

driverDOC has partnered with Truckers Against Trafficking (TAT), a nonprofit organization working to combat sex trafficking through the trucking, bus, and energy industries. This partnership aims to empower and equip the trucking industry to fight against human trafficking along roadways.

Operational Insights

Competitive Advantages

driverDOC's focus on digitizing the BOL process and enhancing the driver experience positions it uniquely in the market. By providing real-time data access, improving compliance, and reducing manual processes, the company offers significant value to shippers, carriers, and receivers.

Strategic Opportunities and Future Directions

With the additional funding secured in 2023, driverDOC is poised to expand its platform capabilities, enhance technological features, and potentially explore new markets. The company's commitment to innovation and improving the supply chain ecosystem aligns with industry trends toward digital transformation and automation.