Kodiak's Road to IPO: AI, Defense Contracts, and the Future of Autonomous Trucking

Art of Supply

On September 25, 2025, Kodiak, an autonomous truck software company founded in 2018, went public with a $2.5 Billion valuation.

Unlike other companies that make the whole truck autonomous, Kodiak retrofits existing equipment with their sensors and software. Also, unlike other companies in their space… they have revenue, something that is a challenge in any emerging industry.

In 2024, Kodiak became the first company to announce the delivery of a driverless semi-truck to a paying customer, but I think everyone has the same question: will it work? That goes for both Kodiak's solution and their business model.

In this episode of the Art of Supply podcast, Kelly Barner:

• Reviews how the Kodiak model works and what makes it different – including how they generate revenue
• Explains where they already have trucks in operation and how that is going, as well as the military investment that infused them with the capital required to grow
• And finally, she tries to answer the question 'Will it work long term?' from an operational and investment point of view

Links:

• Kelly Barner on LinkedIn
• Art of Supply LinkedIn newsletter
• Art of Supply on AOP
• Subscribe to This Week in Procurement