Flock Freight raises $215 million

Truck logistics company Flock Freight has raised $215 million in Series D financing led by SoftBank Vision Fund 2. Additional investors participating in the round include Susquehanna Private Equity Investments, LLLP, Eden Global Partners, SignalFire, GLP Capital Partners, and GV. This round gives Flock Freight a valuation of over $1 billion.

Founded in 2015, Flock Freight offers an alternative to the traditional shipping processes. The company uses proprietary technology to pool shipments that are traveling in the same direction onto one truck, eliminating the need for terminals. Flock Freight also offers freight insurance.

“Flock Freight is the only company that offers guaranteed hubless shared truckload service, and this additional investment adds more fuel to our sustained triple-digit growth. Our continued partnership with SoftBank, as well as our new relationship with Susquehanna and Eden, enable us to keep leading the freight industry’s change towards filling trucks at scale without sacrificing service performance.” – Oren Zaslansky, CEO and founder of Flock Freight.

“We believe Flock Freight’s technology has demonstrated the unprecedented ability to pool shipments in real time, maximize trailer utilization, and reduce waste – while delivering high service quality. We are pleased to continue our support of Oren and the Flock Freight team as they aim to reinvent freight shipping.” – Andrew Straub, investment director at SoftBank Investment Advisers.