Fleeting, a Black-Owned Commercial Trucking and Fleet Management Company, Receives $500,000 Investment from NBA Star Kyrie Irving and New Fund Lockstep Ventures

| May 11, 2021

The investment will help grow Fleeting’s social impact arm to hire and train those from underserved communities, including women and formerly incarcerated people

Fleeting, a Black-owned commercial trucking and fleet management services company, is proud to announce that it received a seed round investment of $500,000 from Kyrie Irving, NBA superstar and founder of new consulting firm, KAI 11 Consulting, and Lockstep Ventures, the new venture fund founded by Michael Loeb, Bonin Bough, and Marcus Glover.

The joint investment from KAI 11 Consulting and Lockstep Ventures will help Fleeting grow its social impact arm to include hiring and training people from marginalized communities, including women and those who were formerly incarcerated.

“I am thrilled to receive this investment from KAI 11 Consulting and Lockstep Ventures to further scale our business and empower those from underserved communities. The trucking industry is one of the fastest-growing in the U.S. and I want to ensure it provides access to everyone who wants to be part of it. I intend to help those in the Fleeting family to become financially independent and even entrepreneurs themselves,” said Pierre Laguerre, founder and CEO of Fleeting.

Later this year, Fleeting will offer a three-month training program for formerly incarcerated men and women to provide them with the tools needed to obtain a commercial driver’s license once released. By removing bias from its hiring process, it gives all employees equal access to financial freedom. Fleeting also provides incentives for women truckers and those with families by providing flexible hours and access to shorter trips. 

In addition to its social impact, Fleeting is also addressing the shortage of truck drivers. Many experts believe the trucking industry needs to hire 900,000 more drivers, especially since 71 percent of all freight in America is moved by truck. Fleeting is also leveraging the underutilized trucks owned by third parties to build a nimble and easily deployable and scalable fleet, as well as use technology to match drivers and trucks to maximize truck utilization and capture a significant percentage of the $700 billion logistics industry.

Category: Featured, General Update, Management, News, People

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