Digital Freight Services Race Toward More Cash And Last Mile Innovation

Nov 15, 2019 at 08:19 AM CST
As the world of automotive and freight drives toward a future of connected commerce and even autonomous driving, companies are fighting it out to solve the many problems in that area of the economy, including last-mile delivery. The latest example of the power of those digitally-enabled innovative efforts comes from online freight marketplace operator Convoy. As The Wall Street Journal reported this week (Nov. 13), the company has raised $400 million in funding round led by Generation Investment Management LLP and previous investor T. Rowe Price Associates. “Founded in 2015, Seattle-based Convoy is among the biggest operators of online marketplaces that match truckers with shippers needing to move cargo,” the report said. “The startups, including Uber Technologies Inc.’s Freight unit, aim to make booking shipments more efficient by using mobile apps to find available trucks and automating transactions that had traditionally been arranged through emails and phone calls.”

Nov 15, 2019 at 08:19 AM CST

As the world of automotive and freight drives toward a future of connected commerce and even autonomous driving, companies are fighting it out to solve the many problems in that area of the economy, including last-mile delivery. The latest example of the power of those digitally-enabled innovative efforts comes from online freight marketplace operator Convoy. As The Wall Street Journal reported this week (Nov. 13), the company has raised $400 million in funding round led by Generation Investment Management LLP and previous investor T. Rowe Price Associates. “Founded in 2015, Seattle-based Convoy is among the biggest operators of online marketplaces that match truckers with shippers needing to move cargo,” the report said. “The startups, including Uber Technologies Inc.’s Freight unit, aim to make booking shipments more efficient by using mobile apps to find available trucks and automating transactions that had traditionally been arranged through emails and phone calls.”