Transflo, a Tampa, Florida-based provider of mobile business intelligence and payments facilitation tools to the transportation sector, received a new equity investment from True Wind Capital and Bregal Sagemount.
Financial terms of the transaction were not disclosed. Carousel Capital, Transflo’s first institutional investor, remains a significant minority investor.
The company intends to use the funds to accelerate product innovation and to pursue strategic acquisitions.
Led by Frank Adelman, Chief Executive Officer, Transflo is a provider of mobile, business intelligence and payments facilitation software to the transportation industry. The company’s cloud‐based technologies digitize nearly 800 million shipping documents each year with over $100 billion in freight spend flowing over the Transflo rails. Organizations throughout its client and partner network use the solution suite and digital platforms to increase efficiency, improve cash flow, and reduce costs.
Over the past several months, the company announced the release of the latest iteration of its driver-focused workflow app, Transflo Mobile+ 5.0, and introduced Transflo Intelligent Automation, a suite of document automation services that provide carriers, freight brokers, factoring providers, shippers and freight auditors powerful new tools to manage and process load related documents.