What is New Pride?
Established in 1983, New Pride Corporation has evolved from a wholesale truck tire retreading service for independent dealers and the Intermodal industry in Northern California to one of the largest Intermodal retreading companies in the United States. The company expanded its operations significantly, adding retread facilities in Southern California, Festus, MO, and Marion, AR. New Pride also operates tire warehouses and service centers nationwide and has established bias and radial tire production facilities in China. Its product line includes the private label "New Pride" Intermodal chassis/trailer tire, available in various specifications, supported by an extensive mold inventory exceeding 340 molds. The company is known for its ability to develop tailored tire programs, including drop shipping, trailer load deliveries, and warehousing, catering to national, regional, and local customer requirements.
How much funding has New Pride raised?
New Pride has raised a total of $150K across 1 funding round:
Debt
$150K
Debt (2020): $150K with participation from PPP
Key Investors in New Pride
PPP
Public-Private Partnership
What's next for New Pride?
The company's 'large-scale late-stage funding' context, coupled with the recent 'major strategic investment', indicates a phase of significant scaling and market consolidation. New Pride is likely to leverage this capital to further expand its operational footprint, enhance its manufacturing capabilities in China, and potentially broaden its distribution network for its private label tires and retreading services. Strategic partnerships or acquisitions within the tire and logistics sectors could also be on the horizon as the company aims to solidify its market leadership in the Intermodal and wholesale truck tire segments.
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