Investment News Seattle

On-demand trucking company Convoy raised $16M

For all of the technological advances in the past decade or so, a large portion of the U.S. economy still relies on trucking. The trucking industry itself has undergone little change over this time, aside from some advancements in communications and other technology on the periphery. Well, Convoy – a new Seattle based on-demand trucking startup – has just raised $16 million to update the industry.

Convuoy-app On-demand trucking company Convoy raised $16M

Convoy has built a platform that makes it incredibly easy for shippers to find local trucking companies, and easy for these trucking companies to find work. It is also quite useful for quick turnarounds. Right now, the main focus for the startup is the local and regional shipping space. To use the cliche, Convoy is the Uber for truck shipping.

Convoyis reinventing the trucking industry with an on-demand service for regional and local shipments. Convoy uses the latest technology to connect shippers with nearby trucking companies, helping them book jobs instantly without haggling over price—even on short notice. With Convoy, it’s as easy to create shipments as it is to order from Amazon.1

The A Round funding came from a few different high-profile sources. The $16 M round was led by Greylock Partners, and will include board seats for LinkedIn Co-Founder Reid Hoffman, eBay Motors Founder Simon Rothman – both are partners in Greylock. Also participating in the round were Amazon exec. Jeff Wilke, Instagram Co-Founder and CEO Kevin Systrom, LinkedIn exec. Mike Gamson, and Acista Chairman Gary Chartrand. Convoy will use the new funding to continue the build out of their systems, as well as expanding into new regions.