Transfix is a company that drives modern supply chain impact at scale with its Intelligent Freight Platform. By combining machine-learning technology with intuitive software and dedicated supply chain experts, Transfix is enabling organizations to deliver with high performance and high reliability, drive long-term strategy and capacity planning, take empty miles off the road, and optimize their networks at scale. It connects shippers to carriers with real-time, many-to-many freight matching and the visibility they need to make their supply chains more efficient and environmentally responsible. Transfix was founded in 2013 and is based in New York, New York.
ESPs containing Transfix
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
Digital freight marketplaces match shippers with available carriers (e.g., truck fleets) via online platforms. Effectively matching supply with demand helps avoid capacity constraints and bottlenecks, which are common in the highly fragmented trucking industry. These marketplaces are equipped with AI-driven data analytics that help improve freight matching arrangements by enhancing pricing transpa…
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Research containing Transfix
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CB Insights Intelligence Analysts have mentioned Transfix in 2 CB Insights research briefs, most recently on Nov 10, 2021.
Expert Collections containing Transfix
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Transfix is included in 1 Expert Collection, including Supply Chain & Logistics Tech.
Supply Chain & Logistics Tech
Companies offering technology-driven solutions that serve the supply chain & logistics space (e.g. shipping, inventory mgmt, last mile, trucking).
Latest Transfix News
Oct 13, 2022
FreightWaves SPAC agreement with G Squared terminated 2 minutes read Market selloff forces Transfix to remain on the private path. (Photo: Jim Allen/FreightWaves) Digital freight broker Transfix has announced it will remain a private company . It has terminated a business combination agreement with G Squared Ascend I, ending a planned initial public offering. In June, the public listing was pushed back to November due to deteriorating public market conditions. A public listing through a special purpose acquisition company combination was expected to fetch an enterprise value of as much as $1.1 billion. As broader stock markets have rolled over, interest in public listings, including SPACs, has faded. The MerQube FreightWaves Supply Chain Tech Index, which measures the share price performance of tech-enabled supply chain services providers, has fallen 20% since mid-August and is down 31% year to date. In comparison, the S&P 500 is off 25% so far this year. Chart: ( SONAR: MQFWSCTP.USA ). The MerQube FreightWaves Supply Chain Tech Index (Price Returns) tracks the performance of large and liquid companies around the world identified by FreightWaves as best in class in delivering freight technology solutions. The Price Return index considers price movements (capital gains or losses) of the securities that make up the index. To learn more about FreightWaves SONAR, click here . A separate announcement said G Squared and New Enterprise Associates (NEA), which is also currently an investor in Transfix, will lead a private round of funding to back Transfix’s growth initiatives and technology solutions. Larry Aschebrook, G Squared founder and managing partner, will join Transfix’s board. “We have fostered a strong partnership with G Squared and NEA, who continue to believe in our business and the opportunity ahead,” Lily Shen, Transfix CEO and president, stated in the news release. “This funding will allow us to continue investing in our technology and innovation, advancing Transfix’s modern solutions for shippers and carriers, and delivering on the access, ease, and reliability the industry deserves.” When the merger extension was announced in June, a statement said Transfix would receive $50 million in guaranteed financing from G Squared by Sept. 30 as part of a forward purchase agreement. An additional $50 million in committed capital from G Squared was also announced even if the merger didn’t occur. Transfix also announced Tuesday it would streamline operations, with the core focus remaining “sustained, profitable growth.” “We strive every day to be adaptable and resilient in everything we do, and with every decision we make. These adjustments — while difficult — are required to meet and exceed the current and future needs of the freight industry,” the company’s blog post read. A representative from Transfix was not available to elaborate further on the planned operational changes. “Transfix’s team of freight industry and technology experts continues to raise the bar across the sector as they work to move goods more seamlessly and sustainably,” Aschebrook said. “G Squared is confident in Transfix and its prospects and will continue to support Transfix as a private company.”
Transfix Frequently Asked Questions (FAQ)
When was Transfix founded?
Transfix was founded in 2013.
Where is Transfix's headquarters?
Transfix's headquarters is located at 498 7th Ave, New York.
What is Transfix's latest funding round?
Transfix's latest funding round is Series F.
How much did Transfix raise?
Transfix raised a total of $78.5M.
Who are the investors of Transfix?
Investors of Transfix include New Enterprise Associates, G Squared, Lerer Hippeau, Canvas Ventures, Alpaca VC and 8 more.
Who are Transfix's competitors?
Competitors of Transfix include Freightos, Trella, Transporeon, Lori Systems, Kargo, Ofload, Rivigo, Xeneta, Trukker, Dray Alliance and 57 more.
Compare Transfix to Competitors
Convoy is a technology-enabled trucking network that allows shippers to connect with nearby trucking companies and book and track jobs instantly. Convoy's platform offers real-time notifications of jobs and free fleet management tools. Convoy was founded in 2015 and is based in Seattle, Washington.
Cargomatic aims to disrupt local shipping by connecting shippers and truckers in real-time. The company provides on-demand, pre-screened trucks where and when needed.
CargoX offers heavy-duty trucking services for corporations. It enables truck owners and operators to make use of excess capacity and avoid empty return trips. It was founded in 2015 and is based in Sao Paulo, Brazil.
Trella is a B2B trucking marketplace. It helps shippers to improve load utilization and offers transparent pricing as well as helps carriers by connecting them with shippers through direct bookings. The company allows carriers to track shipments and keeps an eye on transportation trends and performance through reports. The company was founded in 2018 and is based in Cairo, Egypt.
Next Trucking is an online trucking marketplace designed for shippers and truckers. Through its app, Next Trucking makes it easier for drivers to find and book loads.
Loadsmart is a digital freight broker that specializes in full truckload shipping. The company leverages data and machine learning to build artificial intelligence processes into the complex freight brokerage cycle, allowing shippers to book a truckload in seconds and provide instant and targeted loads to carriers.
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