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!