Convoy Brings In $62 Million

Transportation startup Convoy closed $62 million in Series B financing.

Convoy, recognized as Geekwire’s 2017 “Startup of the Year,” is a rapidly-growing company that uses technology to transform the $800 billion trucking industry with an on-demand service for regional and local shipments. Its system connects shippers with nearby trucking companies, helping them book jobs instantly without haggling over price — even on short notice. Convoy plans to make it as easy to create shipments as it is to order from Amazon by sending offers based on the jobs carriers prefer to run the most. Carriers who complete jobs with Convoy get paid within a few days after each job, not weeks or months as with traditional brokerages.

In its announcement, the company said Convoy will use the funds to accelerate product development and expand its trucking marketplace nationally.