Convoy Raises $185 Million led by Alphabet’s CapitalG | Convoy
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Convoy Raises $185 Million led by Alphabet’s CapitalG

Today we are excited to announce that we’ve raised $185M led by CapitalG, the growth equity investment fund of Google parent company Alphabet, bringing our total capital raised to more than $265 million. As part of our new relationship with Alphabet, David Lawee from CapitalG will join our board of directors.

This year, we’ve expanded our operations nationwide and evolved our business beyond just freight matching. We are excited to expand our relationships with shippers and carriers, accelerate technology-driven innovation, and use data to discover and solve more of the core problems facing shippers and carriers alike.
Trucks run empty 40% of the time, and they often sit idle due to inefficient scheduling. This is a drag on the economy, the environment, and the bottom lines of shippers and carriers alike. Convoy’s ability to serve our shippers and carriers with ground-breaking, innovative technology is already having an impact on these critical problems, and our partnership with CapitalG and other leading investors will accelerate this. We are very excited about what lies ahead. – Dan Lewis, Co-Founder and CEO of Convoy

Thank you to shippers and all the carriers who haul with Convoy for making this possible!

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Convoy is the nation’s most efficient digital freight network. We move thousands of truckloads around the country each day through our optimized, connected network of carriers, saving money for shippers, increasing earnings for drivers, and eliminating carbon waste for our planet. We use technology and data to solve problems of waste and inefficiency in the $800B trucking industry, which generates over 72 million metric tons of wasted CO2 emissions from empty trucks. Fortune 500 shippers like Anheuser-Busch, P&G, Niagara, and Unilever trust Convoy to lower costs, increase logistics efficiency, and achieve environmental sustainability targets.