Emerge, a Phoenix, Arizona-based digital freight marketplace, closed a $20M Series A financing.
The round was led by NewRoad Capital Partners, with participation from Greycroft and 9Yards Capital among other investors.
The company intends to use the funds to expand its development, operations and enterprise sales teams and is expected to move into its brand new 37,000 square foot headquarters in Scottsdale, AZ in March 2020.
Founded in 2018 by Andrew and Michael Leto, Emerge provides a freight logistics platform that allows shippers to find truck capacity at optimized shipping rates and reduce shipper operating costs by facilitating contract optimization while improving service from quote to delivery.
The company has already processed over $1 billion in freight.