Tuesday, November 5, 2024

Transfix Closes $40M Series F Funding Round Led by New Enterprise Associates and G Squared

Transfix, Inc., the Intelligent Freight Platform™, 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.”

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“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.”

SOURCE : PRNewswire

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