NEW YORK, Oct. 19, 2023 - Transfix, Inc. ("Transfix"), the Intelligent Freight Platform™, today announced the closing of its Series F funding round, led by New Enterprise Associates (NEA) and G Squared, with participation from Canvas.
The new capital further strengthens Transfix's financial position, supports a path to profitability, and represents confidence from investors in the company's differentiated approach where superior technology and a data-backed team drive exceptional service and solutions for the most sophisticated shippers and mid-sized carriers.
It also represents the continued conviction of large institutional investors in the company's business, in an otherwise difficult market.
"Since day one, we have been relentlessly committed to optimizing, improving, and future-proofing our core business: our tech-enabled brokerage and software solutions for shippers and carriers," said Jonathan Salama, co-Founder and Chief Executive Officer. "By staying focused, we continue to build momentum despite one of the most challenging markets in freight history. I am incredibly proud to be a member of this transformative and inspiring team."
"We believe that Transfix delivers innovative solutions that help companies optimize in today's freight market, and will provide continued value into the future," said Carmen Chang, Partner and Head of Asia, NEA. "Our investment represents our ongoing confidence in the company's strategy and leadership, and we are looking forward to a continued successful partnership."
"We have been continuously impressed by Transfix's resilience, determination, and innovation," said Larry Aschebrook, Founder & Managing Partner, G Squared. "They don't get side-tracked by 'shiny object syndrome'. They, instead, build and refine against deeply-researched customer needs, and iterate to prepare for the future."
About Transfix
Transfix drives modern supply chain impact at scale with its Intelligent Freight Platform™. By combining enterprise-grade, machine-learning technology with intuitive software and dedicated supply chain experts, Transfix is enabling organizations to deliver with high performance and high reliability, drive long-term strategy and capacity planning, take empty miles off the road, and optimize their networks, at scale. Today, Transfix connects shippers to nearly 30,000 carriers with real-time, many-to-many freight matching and the visibility they need to make their supply chains more efficient and environmentally responsible. Learn more at Transfix.io.
CONTACT: Matt Burkey, matt@carvecomms.com
SOURCE Transfix
