Transfix, a NYC-based logistics intelligence software and truckload marketplace enabling efficient commerce, closed a $42m Series C funding.
The round was led by New Enterprise Associates (NEA) with participation from Canvas Ventures, Lerer Hippeau Ventures and other strategic investors.
The company will use the funds to further develop its software platform and grow its technology and enterprise sales teams.
Led by Drew McElroy, founder and CEO, and Jonathan Salama, co-founder and chief technology officer, Transfix provides a mobile technology, machine learning, and big data analytics platform to streamline and optimize full truck load shipment logistics. The platform enables shippers to amplify their existing carrier relationships with Transfix’s contracted carriers, and provides real-time visibility, exception management, and data analytics to facilitate informed decision making.
Transfix is currently working with many of the world’s largest retailers, consumer-packaged goods (CPG) brands and manufacturers.
Earlier this year, the company launched automated, online load booking capabilities for carriers.