Total amount raised
$169 Million
Latest funding date
10/01/2023
Location
Transfix has successfully raised multiple funding rounds, with the latest being a Series F, backed by notable investors such as New Enterprise Associates and G Squared. The company has garnered support from a total of 17 investors, reflecting strong confidence in its Intelligent Freight Platform™.
With a focus on modernizing supply chain operations, Transfix continues to attract significant investment to enhance its technology and expand its market presence. Keep reading to explore the intricacies of Transfix's fundraising journey and the investors backing this innovative platform.
What Is Transfix?
Transfix is a private company headquartered in New York, New York, United States. It operates in various industries, including B2B, Freight Service, Logistics, SaaS, Supply Chain Management, and Transportation. The company employs between 101-250 people.
Transfix provides advanced technology solutions for the freight industry, focusing on enhancing efficiency, accuracy, and profitability for freight brokers and 3PLs. Their offerings include a comprehensive Transportation Management System (TMS), a Custom Rate Prediction Suite, and an RFP Workflow tool.
How Much Funding Has Transfix Raised?
- Seed Round
- Amount Raised: USD 2,500,000
- Date: July 2014
- Lead Investors: Bowery Capital, Lerer Hippeau
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their Intelligent Freight Platform™ and establish a market presence.
- Debt Financing
- Amount Raised: USD 501,000
- Date: May 2015
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and early-stage growth.
- Series A
- Amount Raised: USD 12,000,000
- Date: November 2015
- Lead Investors: Canvas Prime
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the customer base.
- Series B
- Amount Raised: USD 22,000,000
- Date: July 2016
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and increase market penetration.
- Series C
- Amount Raised: USD 42,000,000
- Date: July 2017
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their technology and expand their service offerings.
- Series D
- Amount Raised: USD 50,000,000
- Date: December 2018
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and improve platform capabilities.
- Secondary Market
- Date: January 2021
- Lead Investors: Manhattan Venture Partners (MVP)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series F
- Amount Raised: USD 40,000,000
- Date: October 2023
- Lead Investors: G Squared, New Enterprise Associates
- Valuation at Round: USD 376,000,000
- Motivation Behind the Round: To strengthen financial position and pave the way for profitability.
Total Amount Raised: USD 168,501,000. Current Valuation: USD 376,000,000.
Key Investors
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that invests in technology and healthcare companies at all stages of growth. They have a strong track record of supporting innovative companies from seed stage through IPO.
- Investment Focus Areas: Technology, Healthcare, Companies at all stages
- Notable Investments: Uber, Coursera, Robinhood
- G Squared
- Details: G Squared is a growth-stage venture capital firm that invests in technology companies. They focus on companies that are at the intersection of technology and traditional industries.
- Investment Focus Areas: Growth-stage technology companies, Companies at the intersection of technology and traditional industries
- Notable Investments: Lyft, Spotify, Instacart
- Canvas Ventures
- Details: Canvas Ventures is a venture capital firm that invests in early-stage technology companies. They focus on sectors such as fintech, digital health, marketplaces, and enterprise software.
- Investment Focus Areas: Early-stage technology companies, Fintech, Digital health, Marketplaces, Enterprise software
- Notable Investments: Zola, Roofstock, Thrive Global
- Bowery Capital
- Details: Bowery Capital is an early-stage venture capital firm focused on investing in business software companies. They aim to support startups that are transforming traditional industries through technology.
- Investment Focus Areas: Business software, Early-stage companies, Technology-driven transformations
- Notable Investments: Transfix, Bluecore, VNDLY
- Lerer Hippeau
- Details: Lerer Hippeau is a New York-based venture capital firm that invests in early-stage companies. They have a diverse portfolio that spans various sectors, including media, e-commerce, and technology.
- Investment Focus Areas: Early-stage companies, Media, E-commerce, Technology
- Notable Investments: BuzzFeed, Casper, Warby Parker
What's Next for Transfix?
Transfix stands at the cusp of significant opportunities, driven by its mission to address inefficiencies in the long-haul freight industry. With a recent $40 million Series F funding round, the company is well-positioned to enhance its Intelligent Freight Platform™, which connects shippers with nearly 30,000 carriers. This platform aims to solve issues like information asymmetry and low operational efficiency, paving the way for substantial market growth.
Future fundraising opportunities appear promising, given the strong investor confidence demonstrated in the latest funding round. As Transfix continues to scale and refine its technology, additional private financing rounds or even a public offering could be on the horizon. However, the company must navigate challenges such as market fluctuations and competitive pressures to maintain its growth trajectory.
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