Since 2017, ClockWork has raised $1.8 million in venture capital with global portfolio of investors
Corrie White - Thursday, January 21, 2021
Fast-growth startup ClockWork — a highly configurable digital delivery platform connecting shippers with independent carriers in local markets — focuses its solution on improving the lives of drivers, while giving customers control over first mile pickup and final mile delivery. ClockWork has raised $1.8 million in venture capital with investors in Europe, North America and Asia Pacific. By March, the startup projects they will exceed $1 million in annual recurring revenue (ARR).
“The driver’s life is made easier,” said co-founder Sascha Peyer in an interview with FreightWaves. “We recognize that the driver is a critical part of the workforce in a global supply chain. Our technology wraps around existing systems and utilizes automation to extend the digitized delivery order through to the carrier, dispatcher and driver. The existing contracted truck network for a third-party logistics (3PL) provider or a shipper has intrinsic value. We unlock this potential by digitizing these relationships. This is how we differentiate from the GPS sensor provider, the digital broker or visibility sourced from ELD.”
Peyer said the value from digitized delivery accrues to the shipper, therefore the financial responsibility of technology should be the shipper or 3PL’s — not the carrier’s.
ClockWork’s cloud-based solution includes a bidirectional integration with a 3PL’s or shipper’s existing system. Workflow automation applies a configurable profile and then progresses the delivery order from carrier tender to dispatch and then into the driver’s hand. Real-time actionable pickup and delivery data collected by the driver in the delivery moment eliminates manual processes and triggers notifications to the shipper and consignee if a delivery is late or refused or damaged.