New York, NY – Transfix, Inc., a prominent digital freight brokerage company, has proudly announced the successful closing of its Series F funding round. The funding was spearheaded by New Enterprise Associates (NEA) and G Squared, with additional participation from Canvas. This financial injection further solidifies Transfix’s position in the market, fortifying its path to profitability while displaying resounding investor confidence in the company’s innovative approach, which combines cutting-edge technology with a data-driven team to deliver exceptional services and solutions to shippers and mid-sized carriers.
In an increasingly challenging market, Transfix’s ability to secure substantial investment underscores the faith that large institutional investors have in the company’s business model.
Jonathan Salama, the Co-Founder and Chief Executive Officer of Transfix, expressed the company’s unwavering commitment to enhancing its core business, which revolves around tech-enabled brokerage and software solutions for shippers and carriers. “Since day one, we have been relentlessly committed to optimizing, improving, and future-proofing our core business: our tech-enabled brokerage and software solutions for shippers and carriers. By staying focused, we continue to build momentum despite one of the most challenging markets in freight history. I am incredibly proud to be a member of this transformative and inspiring team,” Salama stated.
Carmen Chang, Partner and Head of Asia at NEA, emphasized the belief in Transfix’s capacity to deliver innovative solutions that optimize operations in the current freight market and offer lasting value into the future. “Our investment represents our ongoing confidence in the company’s strategy and leadership, and we are looking forward to a continued successful partnership,” Chang remarked.
Larry Aschebrook, Founder & Managing Partner at G Squared, praised Transfix’s resilience, determination, and innovation, contrasting the company’s approach with the common temptation of ‘shiny object syndrome’ in the industry. “They don’t get side-tracked by ‘shiny object syndrome’. They, instead, build and refine against deeply-researched customer needs, and iterate to prepare for the future,” Aschebrook said.
Transfix’s successful Series F funding round showcases not only the company’s ability to navigate the challenging freight market but also the enduring trust and commitment from investors who recognize the company’s forward-thinking approach to the industry’s demands. This capital injection is set to further strengthen Transfix’s foothold in the digital freight brokerage sector, promising continued growth and innovation in the years to come.
