The Series D round brings Flock Freight to a $1.3B valuation. Here are the top-line bullets you need to know.
Flock Freight, a freight logistics technology provider, has raised $215M in a Series D. The round drew participation from SoftBank Group, SignalFire, Eden Global Partners, and Google Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Flock Freight utilizes AI-driven algorithms to provide shared truckload services that enhance delivery time and reduce damage.
- These services have reportedly helped Flock Freight customers cut a collective 15,000 tons of carbon emissions.
- The company claims to have pooled nearly 20,000 shipments, and its customers include Berlin Packaging, Dollar Shave Club, FoodMatch, Whole Foods, Wegmans Grocery, and Titan Supply Group.
- The company has around 325 employees.
Source: Flock Freight
WHY DOES THE MARKET MATTER?
- The global logistics market is projected to grow at a CAGR of 6.5% and reach a value of $12.98B by 2027, according to Allied Market Research.
- Shifts in consumer behavior, supply chain disruptions, and worsening labor shortages are creating bottlenecks along the supply chain, driving demand for solutions that improve resiliency, agility, and efficiency.