![]() The result is high costs and long transport times, said Zaslansky. The less-than-full truckload category typically uses a hub and spoke system, where goods are trucked to terminals, unloaded and then reloaded again on different vehicles until they reach their destination. It generally is split into two categories - shippers looking to transport less-than-full truckloads of goods, and those seeking to ship full truckloads. The freight business is enormous, said Zaslansky. ![]() “We are pleased to continue our support of Oren and the Flock Freight team as they aim to reinvent freight shipping.” ![]() “We believe Flock Freight’s technology has demonstrated the unprecedented ability to pool shipments in real-time, maximize trailer utilization, and reduce waste - while delivering high service quality,” said Andrew Straub, investment director at SoftBank Investment Advisers. The new funding brings the total amount raised by Flock Freight since inception to just under $400 million. It estimates more than 15,000 tons of emissions have been cut to date because of its technology, and it is on track to exceed its goal of 20,000 tons of CO2 emissions savings in 2021. “We are the only company in the world that uses technology to fundamentally change the way freight moves.”įlock Freight’s technology increases efficiency and therefore reduces the carbon footprint of shipping, according to the company. “We are changing the rules,” said Zaslansky. It also has a pricing engine that allows partial truckload shippers to pay for only the amount of truck space that they use -with the price ranges based on the likelihood that other shippers will emerge to fill the rest of the truck. In its marketplace, it then finds loads to fill these trucks based on the fastest routes and first-in, last-out loading requirements. We are now doing hundreds of millions in revenue, I think it fair to say, and employing 325 people as of today.”įlock Freight uses technology to pinpoint less-than-full truckloads that are headed in the same direction. “We’re a six-year overnight success story. The marketplace taps cargo pooling and probability pricing algorithms to combine small amounts of shipped products into a shared full truckload - akin to a carpool for freight.įounded in 2015, the company has experienced accelerated growth since January 2020, said founder and Chief Executive Oren Zaslansky. The company now joins Seismic, Tealium, Shield AI and ClickUp as local, privately held startups with valuations topping $1 billion.įlock Freight said the money will go toward advancing its patent-pending shared truckload platform. The funding round, led by Softbank Vision Fund 2, comes on top of $113.5 million raised by Flock Freight in December. It does not store any personal data.Flock Freight, an Encinitas trucking logistics firm that aims to revolutionize the way freight moves across the country, has landed another $215 million in venture capital - making it San Diego’s latest startup unicorn. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. ![]() The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly.
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