Ohio, a U.S.A-based retail platform exclusively focused on the trucking insurance market, LuckyTruck raised USD 2.4 million in recent funding. The seed extension round took place on October 20, 2022. Candid Insurance Investors, an angel network of top P&C insurance industry CEOs, led the financing for the firm. Parker Beauchamp of Markd, Draper University Ventures and SiriusPoint also joined in the funding.

The company also announced the appointment of an industry titan and former advisor/board member to LuckyTruck, Julie Zimmer, as CEO. So far, the total financing raised by the firm stands at USD 6.5 million.

Purpose of funding for LuckyTruck

With the latest proceeds from the seed extension round, the company intends to accelerate growth.

It has plans to expand operations and also looks forward to increasing its business reach. Besides, LuckyTruck aims to advance its digital insurance and financial solutions for the industry.

What the new CEO has to say

Julie Zimmer, CEO of LuckyTruck, said, “I see LuckyTruck at the forefront of the digitization of commercial trucking insurance. The growth of the business under Devin’s leadership has been tremendous – I’m looking forward to building on his mission of taking the friction out of trucking insurance and providing a valuable service to the overall supply chain.”

What the investor has to say

Parker Beauchamp further added, “Trucking has become more complex, and that requires a higher level of company flexibility. The modern reality of Trucking needs a solution like LuckyTruck. I’m eager to see LuckyTruck bring the space into the future, and I am confident in their vision. LuckyTruck understands the industry’s need to modernize the purchase and management of trucking insurance.”

About the company

Devin Bostick 2019 launched the company. The company reported impeccable growth in 2022. Its team of 25 employees grew to more than 60 in October. Further, the company has catered to over 700 active customers in just four short years. With NPS scores consistently over 70, it’s evident that the LuckyTruck platform is meeting the needs of trucking insurance customers across the country. LuckyTruck is the only retail agent that combines all the essential pieces of the insurance purchase and management processes in one easy-to-use digital platform. It leverages data and automation to take the friction out of all aspects of the customer journey. 

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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