Flock Freight, a Solana Beach, Calif.-based hubless business-to-business freight logistics company, raised $50M in Series B funding.
The round was led by SignalFire and GLP Capital Partners.
The company intends to use the funds to expand FlockDirect, its hubless pooling product.
Founded in 2015 by Oren Zaslansky, chief executive officer, Flock Freight provides FlockDirect, an hubless pooling product that utilizes proprietary algorithms to pool multiple less-than-truckload (LTL) and partial-truckload (PTL) freight shipments so they can be shipped via full truckload service, into a mid-market and enterprise-level solution for businesses across the country.
FlockDirect aims to eliminate terminals, the need to switch trucks or stop at warehouses, optimize the route and guarantee the delivery date to create a predictable shipping schedule for customers.