Transfix Secures $40 Million in Series F Funding, Led by NEA and G Squared
Transfix, Inc., the pioneering Intelligent Freight Platform™, has officially closed a successful Series F funding round, with New Enterprise Associates (NEA) and G Squared taking the lead, and Canvas also participating in the round.
This infusion of fresh capital substantially bolsters Transfix’s financial stability, providing a clear path towards profitability. It serves as a testament to the unwavering faith of investors in the company’s distinct approach, where cutting-edge technology and data-driven expertise deliver exceptional services and solutions to highly sophisticated shippers and mid-sized carriers.
Furthermore, this funding underscores the ongoing support of prominent institutional investors for Transfix, a notable achievement considering the challenging climate of the freight industry.
Jonathan Salama, Co-Founder and Chief Executive Officer of Transfix, emphasized the company’s steadfast commitment to enhancing and future-proofing their core business. Their tech-enabled brokerage and software solutions for shippers and carriers have been the bedrock of their success, even in the face of one of the most demanding periods in freight history. Salama expressed his immense pride in being part of this transformative and inspiring team.
Carmen Chang, Partner and Head of Asia at NEA, expressed their belief in Transfix’s innovative solutions, describing them as instrumental in helping companies optimize operations in today’s ever-evolving freight market. NEA’s investment is a vote of confidence in Transfix’s strategic vision and leadership, highlighting the anticipation of a fruitful partnership.
Larry Aschebrook, Founder & Managing Partner at G Squared, commended Transfix for their resilience, determination, and innovative mindset. He noted that Transfix’s unwavering focus on addressing deeply-researched customer needs, rather than succumbing to “shiny object syndrome,” has set them apart. Their dedication to building and refining solutions to meet future demands has been particularly impressive.
This funding round represents a significant milestone for Transfix as they continue to push the boundaries of innovation and make a lasting impact in the freight and logistics sector.