Transfix offers an intelligent transportation platform that combines enterprise-grade machine learning, software, and dedicated supply chain experts to enable many-to-many real-time freight matching and visibility. The platform supports capacity planning, network optimization, and efforts to eliminate empty miles. Led by CEO Jonathan Salama, the company connects shippers to nearly 30,000 carriers. Transfix intends to use new funding to enhance its financial position and support a path to profitability. The company positions its product to help organizations deliver long-term strategies and more environmentally responsible supply chains. Transfix operates a fleet-management platform and an online marketplace that helps match customers needing interstate freight shipping with truck drivers. Its fleet-management features include shipment tracking, SMS driver communication, delay alerts, and fuel-tax calculations. The company says its transaction time is now almost half of what it was in 2015. Transfix launched an online marketplace allowing carriers to select loads by price, and has worked to integrate more seamlessly with large enterprise customers to provide visibility and supply-chain analysis. It employs about 110 people. One in five carriers signs up for Transfix’s quick-pay program, which charges a 2% convenience fee; the company says that service is not a major source of revenue and has historically funded it itself. Transfix operates an online marketplace that matches shipments with available trucks and provides tools for shippers and carriers. The company offers a mobile app (iOS and Android) for drivers, a free fleet management system for trucking companies, and a dashboard with real-time shipment locations, alerts, and customized analytics for shippers. Launched in August 2013 by CEO Drew McElroy, Transfix has focused on technology-driven logistics workflows. The company has raised $35.8M in capital to date and recently completed a $22M Series B. It intends to use the new funding to continue investing in technology and to expand its product offerings. Transfix is based in New York City. Transfix operates a mobile app and web platform that matches customers needing interstate freight shipping with truck drivers, while offering fleet-management features like shipment tracking, SMS driver communication, delay alerts, and fuel tax calculations. The company has attracted roughly 6,000 drivers to the platform and expects about $1 million in revenue this month. Transfix is a two-year-old, 26-person startup planning to grow headcount to about 75 over the next year. Product development is a priority: the company plans social networking features for drivers and other product improvements. Transfix also plans to use capital to enable faster payments, targeting paying truckers within 24 hours of a completed shipment.

Total raised

$116M

Funding rounds

4

Latest round

Series F

Latest activity

Oct 2023