Friday, April 23, 2021

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Flock Freight: Raises $113.5M in Series C Funding

  • 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

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