Transfix, Intelligent Freight Platform has successfully closed its Series F funding round, raising $40 million. The funding was led by New Enterprise Associates (NEA) and G Squared, with participation from Canvas.
This fresh infusion of capital further solidifies Transfix’s financial position, enabling a strategic path to profitability. The investment demonstrates investor confidence in Transfix’s unique approach, where cutting-edge technology and data-driven strategies are employed to provide exceptional service and solutions for sophisticated shippers and mid-sized carriers.
Jonathan Salama, co-Founder, and Chief Executive Officer of Transfix, emphasized the company’s unwavering commitment to optimizing its tech-enabled brokerage and software solutions for shippers and carriers. Despite challenges posed by one of the most difficult markets in freight history, Transfix’s focused approach has allowed them to maintain momentum and build resilience.
Carmen Chang, Partner and Head of Asia at NEA, expressed confidence in Transfix’s ability to deliver innovative solutions tailored for today’s freight market and the future. This investment reflects NEA’s belief in Transfix’s strategy and leadership, fostering a successful and enduring partnership.
Larry Aschebrook, Founder & Managing Partner at G Squared, commended Transfix’s resilience, determination, and innovation. He highlighted the company’s ability to stay focused on customer needs and prepare for the future, avoiding distractions often associated with “shiny object syndrome.” Transfix’s dedication to building and refining solutions based on deeply-researched customer requirements has set them apart in the industry.