Transfix, a NYC-based mobile and software-enabled trucking brokerage, raised $12m in Series A funding.
The round was led by Canvas Ventures with participation from existing investors Lerer Hippeau Ventures, Founder Collective and Bowery Capital. In conjunction with the funding, Canvas Partner Ben Narasin and Canvas Partner Paul Hsiao joined Transfix’s Board of Directors.
The company intends to use the funds to accelerate development of its services and platform. Research and development will focus on prescriptive algorithms, business intelligence and supply chain visibility.
Launched in August 2013 and led by Drew McElroy, Co-Founder and CEO, Transfix provides automated third-party logistics (3PL) services and a SaaS-based supply chain execution platform for manufacturers and distributors.