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Carmel-based DriverReach LLC, a tech firm focused on the trucking industry, has been acquired by one of its competitors, Tulsa, Oklahoma-based Tenstreet.
DriverReach’s founder and former CEO, Jeremy Reymer, has left the company and is now focused on another trucking-related effort—a new nonprofit called Project 61 that aims to help truckers adopt healthy habits.
Founded in 2016, DriverReach offers a software platform that trucking companies can use to recruit and retain drivers. Pre-acquisition, DriverReach had about 40 full-time employees, more than half of them based in Indiana.
DriverReach landed $7.5 million in equity funding in 2022. The Series A round was led by Atlanta-based Fulcrum Equity Partners, with participation from Charlotte, North Carolina-based CreativeCo Capital.
Tenstreet, which was founded in 2006, offers a platform for driver recruitment, hiring, compliance management and other functions. The company has more than 250 employees.
“They’re the 800-pound gorilla in the space, and we were their biggest competitor,” Reymer said.
The transaction closed March 31. Financial terms of the deal were not disclosed.
In announcing the acquisition, Tenstreet said in a prepared statement issued that “both companies will join forces to simplify, accelerate and scale the capabilities of Tenstreet’s powerful marketplace solution.”
DriverReach is the latest in a string of acquisitions for Tenstreet over the last few years. The company acquired South Bend-based Stay Metrics in 2020; Pittsford, New York-based Vnomics and Birmingham, Alabama-based True Load Time in 2022; and Chicago-based TruckMap in 2023.
Reymer said a handful of DriverReach employees lost their jobs as a result of the transaction, but none of them live in Indiana.
Now that he has exited DriverReach, Reymer has turned his attention to Project 61—a passion project he launched last fall.
The organization’s name comes from the oft-quoted statistic that the average life expectancy among commercial truck drivers is 61—far lower than life expectancies overall. According to the Centers for Disease Control and Prevention, average life expectancy is currently 74.8 for men and 80.2 for women.
“That’s just not fair,” Reymer said of the disparity. “It’s not OK, and it’s not for any other reason than the job that [truckers] are in.”
Project 61’s website launched in September, and Reymer hopes to launch a mobile phone app for drivers by the end of this year.
The realities of driving a truck make it difficult to eat well, exercise and get enough sleep, Reymer said, and as a result drivers can easily fall into unhealthy habits.
Project 61 aims to address the problem by promoting things such as easy recipes truckers can prepare on the road, step challenges that encourage drivers to walk, and information about sleep. The mobile app could also connect drivers with fee-based health coaching, Reymer said.
“Project 61 is where my heart and focus is right now,” Reymer said.
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