NEXT Trucking - Company of the Year
Company: NEXT Trucking, Lynwood, CA
Company Description: NEXT Trucking is an online trucking marketplace and app designed for shippers and truckers. Through its intelligent matching capabilities, NEXT Trucking maximizes productivity while remaining trucker-centric, allowing carriers to select from real-time and future availabilities as well as preferred routes and rates.
Nomination Category: Company/Organization Awards Categories
Nomination Sub Category: Company of the Year – Business Services – More Than 10 Employees
Nomination Title: NEXT Trucking
Describe for the judges the activities and accomplishments of the nominated organization since the beginning of July last year (up to 525 words):
2017 to 2018 has been a crucial year for NEXT Trucking, where the company has grown from a young startup into the biggest virtual fleet in Southern California. We have more than doubled the number of full-time employees from 35 to 90 and increased the revenue by 94% over the same time period of last year. Along with the human capital gain, the company has also succeeded in fundraising, partnerships, business expansion and gained recognition from the industry.
In January 2018, NEXT Trucking announced $21 million Series B funding led by Sequoia Capital, which was also an early investor in Apple, Google, PayPal, YouTube, and Zappos. The funding allowed NEXT to expand its team quickly, adding VPs of Product and Engineering to the executive team.
In March, NEXT Trucking started a strategic partnership with Mitsui O.S.K. Lines (MOL), one of the largest shipping companies in the world, to provide a seamless integrated platform for MOL customers to ship cargo to final distribution destinations in the U.S. The partnership allows MOL customers to easily find carriers to move their shipments from the Los Angeles ports to distribution centers across Southern California.
One important milestone for the company was the successful development of its own over-the-road trucking and drayage fleets beginning May 2018. Owned assets (trucks and trailers) and resources (fleet drivers) provides the company and our customers with more capacity and mobility. As of September 26, the company owns over 250 assets for over-the-road and drayage operations.
In June, the CEO and Co-founder of NEXT, Lidia Yan, was named a finalist of EY Entrepreneur of the Year in the Greater Los Angeles County. This prestigious awards program recognizes entrepreneurs who excel in innovation, financial performance and personal commitment to their businesses and communities.
As the company continued to grow, two new satellite offices in Irvine and Culver City, CA were opened in July to accommodate the growing team. The Lynwood office and warehouse continues to serve as the company headquarters, but the newly opened offices had provided work flexibility for employees that live far.
This September, another warehouse and facility was opened in Gardena, CA . This 7.4 acre facility has 72 transloading docks, allowing more efficient loading and unloading process.
Along with the grand opening of the Gardena facility, the company also announced a new drayage program called NEXT Relay that utilizes the regional network of drivers on NEXT Trucking’s mobile app as well as the company’s owned fleet to increase average truck turns, container moves, and revenue. The program is already moving over 100 containers per day at the Gardena facility and helping drivers to earn more money with less wait time at the ports.
Provide a brief biography of the person or persons who lead the nominated company (up to 125 words):
Lidia Yan is the CEO and Co-founder at NEXT Trucking, an ambitious Sequoia-backed startup that develops technology to address lack of capacity for the growing volume from global shippers and underutilization in the U.S. trucking industry.
Through NEXT Trucking, Lidia brings together her expertise in product development, marketing and operations. Prior to NEXT Trucking, Lidia was a marketing executive at top 10 ecommerce retailer, Newegg. At Newegg, Lidia managed a $22 million marketing budget while keeping the cost of overall sales under one percent. Before Newegg, she founded 9luxe, a leading flash sale site in China. Lidia launched 9luxe without any venture funding, managed the distribution of over 40 luxury brands, and led the company to profitability within its first six months.
Choose one (even if both apply): The CEO (or other principal manager) of this company is a woman, and at least 40% of the management team is comprised of women.