About this raise
Relay On Demand, with a valuation of $30 million, is raising funds on Wefunder. The company has developed an app that helps to book truck drivers on demand. It has created a flexible driver workforce with its Relay Drivershare Network that trucking companies can utilize to hire truck drivers on demand. Relay On Demand has more than 10,000 app downloads and has generated $6 million in sales to date. Darrell Pickens founded Relay On Demand in April 2018. The current crowdfunding campaign has a minimum target of $50,003 and a maximum target of $534,998. The campaign proceeds will be used for marketing, hiring, and technology development.
Investment Overview
Invested : $205,801
Deal Terms
Total Commitments
- Platform
- Wefunder
- Start Date
- 08/26/2022
- Close Date
- 03/15/2023
$50,003
$534,998
$100
Equity - Preferred
Growth Stage
RegCF
$5.00
$25,980,000
$30,000,000
Company & Team
Company
- Year Founded
- 2018
- Industry
- Logistics, Delivery, & Supply Chain
- Tech Sector
- Distribution Model
- B2B
- Margin
- Low
- Capital Intensity
- Low
Financials
- Revenue +197% YoY
- $3,102,370
- Monthly Burn
- $31,070
-
Runway
- 3.6 months
- Gross Margin
- 12%
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Analyst Report
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.
Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $1,056,202
- VC Backed?
- No
Growth Charts
Revenue History
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.