Relay On Demand
A new and better way to book truck drivers on demand
Overview
Raised: $206,001
Rolling Commitments ($USD)
03/26/2023
412%
39%
$1,025
196
2018
Logistics, Delivery, & Supply Chain
MarketplaceTech
B2B
Low
Low
Summary Profit and Loss Statement
Most Recent Year | Prior Year | |
---|---|---|
Revenue |
$3,102,370 |
$1,045,832 |
COGS |
$2,735,501 |
$955,298 |
Tax |
$850 |
$850 |
| ||
| ||
Net Income |
$-372,834 |
$-186,131 |
Summary Balance Sheet
Most Recent Year | Prior Year | |
---|---|---|
Cash |
$112,064 |
$46,080 |
Accounts Receivable |
$49,997 |
$0 |
Total Assets |
$162,062 |
$46,080 |
Short-Term Debt |
$20,685 |
$30,888 |
Long-Term Debt |
$358,746 |
$328,198 |
Total Liabilities |
$379,431 |
$359,086 |
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There has been an ongoing nationwide truck driver shortage. That shortage peaked in 2021, reaching as high as 81,258. But according to the American Trucking Association, the problem has persisted ever since the late 1980s.
This is a huge pain point. Trucks are responsible for more than 70% of domestic cargo shipments. Simply put, the U.S. economy doesn’t work without trucking.
If a recession arrives this year as many expect, the industry could see a rare balance of driver supply and demand. But it won’t last. And with the economy projected to recover beginning next year, truck drivers will once again be in short supply.
This is a big problem for the country, the economy, and for trucking companies (also known as “carriers”). No single company can solve it. The issue is going to be with us for quite a while. But at least one company is tackling it in a way that makes life easier for both drivers and carriers. That company is Relay on Demand.