FreightWaves, a Chattanooga, United States-based provider of freight data and analytics, raised $37m in two rounds of minority investment since April.
The round was led by Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, L.P. which has committed $30m, joining venture investors including 8VC, Fontinalis Partners, Revolution Ventures, Hearst Ventures, Prologis Ventures, Story Ventures, and Engage Ventures. The funding, which brought the total capital raised to $75m, will be used for strategic growth. Existing management, led by founder and CEO Craig Fuller, President George Abernathy and CFO Spencer Piland, will continue to lead the company through the next stage of growth.
FreightWaves provides Sonar, a Saas freight market analytics platform which allow transportation and logistics providers, shippers, and financial traders and analysts to gain access to real-time market data on the global logistics market. The media platform offers online, video and podcast news and context for the global freight and logistics markets. Sonar is used by around 400 companies.