Flock Freight Lands $113.5M

Flock Freight, the only digital logistics provider that offers a shared truckload shipping solution for businesses, today announced that it has raised $113.5 million in financing, led by Softbank Vision Fund 2, to disrupt the freight-shipping industry. Existing investors SignalFire, GLP Capital Partners, and GV also participated in the round, in addition to new minority investment by strategic partner Volvo Group Venture Capital. Coinciding with this round, Ervin Tu, Managing Partner at SoftBank Investment Advisers, will join Flock Freight's board.

Flock Freight will use the funding to accelerate developments for the company's algorithmic pooling technology, which transforms existing less-than-truckload (LTL) and truckload (TL) shipping processes. Without Flock Freight's technology, LTL shipments move through the industry's traditional freight-shipping model: The hub-and-spoke system. With Flock Freight's algorithms, LTL shipments travel with a TL carrier as a shared truckload, avoiding hub-and-spoke facilities altogether.

Flock Freight is a San Diego-based B Corp that's been reinventing traditional shipping methods since opening for business in 2015. As the only digital freight provider to guarantee shared truckload shipping, Flock Freight leverages proprietary technology and relationship-driven service to pool shipments that are going the same direction onto one truck. The company provides faster, safer, and more sustainable service for LTL and TL shippers, in addition to increased revenue potential for carriers. Flock Freight's shared truckload solution eliminates terminals and cuts freight-related carbon emissions by up to 40%. Flock Freight is backed by SoftBank, SignalFire, GLP, GV, and several other leaders in the supply chain transformation.