+7%

est. 2Y upside i

AI & MLSeries A

AI enabled marketplace matching trucks with jobs

Rank

#3433

Sector

Logistics & AI Software

Est. Liquidity

~6Y

Data Quality

Data: Low

FleetWorks is a high-risk early-stage bet where the bear case (45% probability) is as likely as the base case: well-resourced incumbents can replicate AI dispatcher features and the company has zero disclosed revenue.

Last updated: May 5, 2026

Bull (18%)+250%

FleetWorks captures 1%+ of the $36B SAM by 2027, reaching $20M+ ARR and commanding a ~$250M Series B valuation — roughly 3x the estimated $75M post-money on the Series A. First Round Capital and YC network effects accelerate enterprise wins beyond the current four named accounts, and the $6/load model scales with freight volume.

Base (82%)+40%

FleetWorks grows to $5–8M ARR with 15–20 freight brokerage customers by 2027 and closes a Series B at ~$105M — roughly 40% paper appreciation from the estimated $75M post-money. Progress is real but pricing power is constrained by well-resourced incumbents, and growth remains below the pace needed for a breakout outcome.

Est. time to liquidity~6.0 years

Preference Stack Risk

high

Funding Intensity

23%

$17M in total preferred sits ahead of all common equity; at an estimated ~$75M post-money valuation the liquidation preference consumes roughly 23% of any exit before common shareholders receive a dollar.

Dilution Risk

high

A Series A company with 26 employees will almost certainly require 2–3 additional rounds before liquidity, each diluting common equity by 15–25% and likely compressing early employee ownership by 40–60% cumulatively.

Secondary Liquidity

none

No secondary market exists for a 26-person Series A company; all equity is fully illiquid and will remain so well beyond the 2-year analysis horizon.

Engineering — 8 roles

Operations — 4 roles

Sales — 2 roles

All Departments — 1 role

View all 15 open roles at FleetWorks →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on FleetWorks's data — designed to show you've done your homework.

  • 1

    “What is your current ARR and net revenue retention, and at what freight-load volume does the $6/load model generate enough revenue to extend runway past 24 months?”

  • 2

    “How are you thinking about defensibility as Uber Freight and Flexport build similar AI dispatcher capabilities — what switching costs lock freight brokers into FleetWorks once a competitor ships?”

  • 3

    “What is the fully diluted cap table structure, including option pool size, any liquidation preference multiples on the Series A preferred, and whether the board has approved a secondary program for early employees?”

Community

Valuation Sentiment

Our model estimates +7% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.