Transfix, a New York-based intelligent freight platform, closed $40 million in Series F funding round.
The round was led by New Enterprise Associates (NEA) and G Squared, with participation from Canvas.
New Enterprise Associates is a global venture capital firm with a mission to make the world better by helping founders build great companies that improve the way we live, work, and play. Based in Lutherville-Timonium, Maryland, the firm prefers to invest in companies operating in the enterprise, consumer, life sciences, and digital health sectors.
Founded in 2011, G Squared is a growth-stage venture capital firm that invests privately in today's most dynamic companies. Based in Chicago, Illinois, the firm prefers to invest in companies operating in the big data, cloud computing, marketplaces, mobile, fintech, insurance tech, social media, and sustainability sectors.
Transfix Use of Funds
The company will use the new capital to further strengthens its financial position, and support a path to profitability.
Transfix specializes in tech-enabled brokerage and software solutions for shippers and carriers. The company’s Intelligent Freight Platform helps shippers and carriers manage and optimize freight 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. The company was founded in 2013 and is based in New York, New York.
Company: Transfix, Inc.
Round: Series F
Funding Month: October 2023
Lead Investors: New Enterprise Associates (NEA) and G Squared
Additional Investors: Canvas
Company Wesbite: https://transfix.io/
Software Category: Freight Software