Tenstreet, LLC

Tenstreet, LLC provides specialized software solutions aimed at enhancing the recruitment, management, and retention processes for truck drivers in the transportation industry. Founded in 2006 and headquartered in Tulsa, US, Tenstreet, LLC specializes in software solutions for the transportation sector. The company has executed two deals since its inception, with its most recent deal in October 2021 when Providence Equity acquired a majority stake from Spectrum Equity. Co-founders Bryan Riddle and Tim Hindes, along with CEO Craig Johnson, continue to drive the company's strategic vision.

The firm has not undergone significant pivots in its business strategy since its founding. Tenstreet offers a comprehensive suite of software solutions designed to enhance the recruitment, management, and retention of truck drivers within the transportation industry. Its core product offerings include advanced recruitment software, streamlined onboarding systems, compliance management tools, and driver engagement platforms. These solutions collectively aim to address critical challenges in driver recruitment and retention by improving communication, reducing hiring timelines, and ensuring compliance with regulatory standards.

Tenstreet's products are utilized by carriers and fleet operators across North America, particularly in the United States and Canada, catering to various fleet sizes from small to enterprise-level operations. The end users of Tenstreet’s solutions include human resources departments within trucking companies, fleet managers, and the drivers themselves, all of whom benefit from increased efficiency and improved operational outcomes. Tenstreet generates revenue primarily through a subscription-based model, offering different tiers of service to its clients, which include trucking companies and fleet operators. The transaction structure typically involves annual or monthly fees for access to its various software modules, such as the IntelliApp for driver applications, employment verification services, and compliance management tools.

Clients engage with Tenstreet on a Business-to-Business (B2B) basis, leveraging these solutions to streamline their hiring processes and improve fleet management efficiency. While specific pricing details for individual products are not disclosed, Tenstreet's flagship offerings are structured to provide clients with a scalable solution that adapts to their growing recruitment needs. The company’s revenue model is aimed at fostering long-term relationships with its clients, enabling them to enhance their operational capabilities while ensuring a steady income stream for Tenstreet. Following the acquisition of a majority stake by Providence Equity in October 2021, Tenstreet plans to enhance its platform and improve consumer solutions.

The partnership will support the development of new products aimed at expanding its offerings in the transportation sector. Tenstreet is targeting growth into new markets, particularly within North America, looking to further penetrate the trucking and transportation industry by 2023. The recent investment will be utilized to develop its platform and enhance consumer solutions, laying the groundwork for future growth.