What does Transfix do?
Transfix, is a leading mobile and software enabled trucking brokerage. It is an on demand mobile and a SaaS marketplace for manufacturers and distributors. A truck driver network shipping a full truckload freight across U.S. The company brings the Uber model to the $800 billion dollar trucking industry. The company provides free, industry leading technologies and ethical brokerage services to independent truck drivers and small carriers over the road. The company is disrupting traditional freight brokers with a tech first approach which brings transparency, efficiency and automation to an industry which has traditionally lacked all the 3 things.
How much Transfix was funded?
Transfix raised $12M in Series A funding on November 10th, 2015 from Expansion Venture Capital, Founder Collective, Bowery Capital, Canvas Ventures and Lerer Hippeau Ventures.
$2.5M on July 10, 2014 from Corigin Ventures, Expansion Venture Capital, Bowery Capital, Lerer Hippeau Ventures, Founder Collective, Thayer Street Partners, Deep Fork Capital, Michael Bryzek, Ben Narasin, Paul Sethi and Carter Reum.
What is next for Transfix?
Transfix represents an exponential leap in technology available in freight logistics, and poses an existential threat to the entire ecosystem of 30K truckload brokers. The company cares deeply about their drivers and customers and their technology makes life an business good for both. The company plans to use the latest funding raised for accelerating development of its automated 3rd party logistics services and supply chain execution platform for distributors and manufacturers. The company’s research and development will focus on the prescriptive algorithms, supply chain visibility and business intelligence.
More about Transfix
Transfix was founded in August, 2013 by Jonathan Salama and Drew McElroy. We build apps and tools for all stakeholders with the truckload shipping ecosystem from mobile apps for drivers to small carrier’s fleet management systems for small carriers and owner operators for logistics management tools for shippers.