Flock Freight raises $113.5 million led by SoftBank Vision Fund 2

Logistics provider Flock Freight has raised $113.5 million in a financing round led by Softbank Vision Fund 2. Existing investors SignalFire, GLP Capital Partners, and GV also participated in the round, in addition to new minority investment by strategic partner Volvo Group Venture Capital.

Founded in 2015, Flock Freight has raised $184 million to date for its software platform – FlockDirect – that allows less-than-truckload (LTL) shippers to share trailer space in one multi-stop full truckload. The company’s patent-pending algorithms propose shared truckloads for a handful of LTL shipments that are going the same direction, optimizing transit routes based on first-in, last-out loading constraints, and moving multiple loads on one truck. As a result, shipments that don’t fill an entire truck and would otherwise trans-load or cross-dock several times in the hub-and-spoke system move via high-quality truckload service with negligible loss, damage, or delay. As an added benefit, Flock Freight’s shared truckload solution helps shippers boost supply chain sustainability through route optimization, cutting greenhouse gas emissions by up to 40%, and lessening the freight industry’s environmental impact as a whole.

“We are excited by Flock Freight’s innovative freight-pooling technology. Flock Freight is the first and only freight company to create a new shipping mode, using algorithms to pool multiple shipments together and transport them along the same route. As a result, Flock Freight is improving supply chain efficiency for hundreds of thousands of shippers. Our investment is intended to accelerate the company’s ability to scale its business and capture a greater share of the market.” – Managing Partner at SoftBank Investment Advisers, Ervin Tu.

Flock Freight is also the first freight-shipping company to earn a B Corporation Certification.