Tech Trucking Network, Convoy, Gets $62 Million in Funding
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Tech Trucking Network, Convoy, Gets $62 Million in Funding

Tech Trucking Network, Convoy, Gets $62 Million in Funding

The “Uber for truckers” startup, Convoy, has raised $62 million in a Series B round. The round was ld by Y Combinator and followed by with the support of Jeff Bezos, Marc Benioff, Bill Gates, and former U.S. senator Bill Bradley who continues his search for a stable and growable platform that connects shippers with carriers.

Bezos invested through his venture firm Bezos Expedition and Bill Gates did the same through Cascade Ventures. Other participants in the funding round included Starbucks President Howard Behar and the founders and CEOs of Dropbox and Instagram, as reported by VentureBeat.

Convoy now has raised $80 million in funding since 2015.

The Seattle startup promises both shippers and carriers that its app reduces the waste of miles and improves operations increasing revenue for all. “By improving trucking, Convoy is improving the foundation of our economy,” stated Anu Hariharan, a partner at YC Continuity, in a press release.

The new funding will enable Convoy to scale its operations nationwide in the U.S., and also to accelerate product development.

“Ask any shipper or truck driver about their business and they’ll point out a dozen things that could run better. Technology is changing this. Now people are excited about the possibilities for innovation,” said Convoy CEO Dan Lewis in the same press release.

The Seattle-based company is not the only player in this increasingly competitive market. Recently the startup Peloton raised $60 million to improve truck automation and KeepTruckin raised $18 million for a device that lets truck drivers track their hours and trucking companies see where their fleet is in real time, as VentureBeat first reported. Also Uber recently debuted Uber Freight to connect trucking companies with shippers.

Who will be first in the next truck stop? If funding is fuel, Convoy has the lead.

Marco Islas
Marco Islas
Journalist with 15 years of experience covering the verge between culture, tech and business lives in the Mexico Silicon Valley witnessing his bloom.

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