Flock Freight, a Solona Beach, Calif.-based digital logistics provider that offers a shared truckload shipping solution for businesses, raised $113.5m in Series C financing
The round was led by Softbank Vision Fund 2, with participation from existing investors SignalFire, GLP Capital Partners, and GV and new investor Volvo Group Venture Capita
In conjunction with the funding, Ervin Tu, Managing Partner at SoftBank Investment Advisers, will also join Flock Freight’s board
The company also intends to use the funds to accelerate developments for its algorithmic pooling technology
Flock Freight is a B Corp which leverages proprietary technology and relationship-driven service to pool shipments that are going the same direction onto one truck
Its shared truckload solution, FlockDirect, allows several LTL shippers to share trailer space in one multi-stop full truckload
