About Transfix
Transfix is a company based in New York (United States) founded in 2012 by Drew McElroy and Jonathan Salama.. Transfix has raised $124.56 million across 8 funding rounds from investors including Canvas Ventures, MidCap Financial and Lerer Hippeau. Transfix offers products and services including Custom Rate Prediction Suite, Spot Rate Predictor, Nationwide Contract Rate Predictor, RFP Workflow, and Custom Autobidder. Transfix operates in a competitive market with competitors including Echo Global Logistics, uShip, Uber Freight, Convoy and Truckstop.com, among others.
- Headquarter New York, United States
- Founders Drew McElroy, Jonathan Salama
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
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- Legal Name Transfix
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$124.56 M (USD)
in 8 rounds
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Latest Funding Round
$40 M (USD), Series F
Oct 19, 2023
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Investors
Canvas Ventures
& 7 more
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Employee Count
Employee Count
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Products & Services of Transfix
Transfix offers a comprehensive portfolio of products and services, including Custom Rate Prediction Suite, Spot Rate Predictor, Nationwide Contract Rate Predictor, RFP Workflow, and Custom Autobidder. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI system for accurate freight bid predictions using historical data
Daily model for short-term freight rate forecasts and market analysis
Tool for long-term RFP pricing based on company performance
Platform for managing and tracking freight RFP submissions efficiently
System to automatically bid on freight loads via integrated TMS
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Funding Insights of Transfix
Transfix has successfully raised a total of $124.56M across 8 strategic funding rounds. The most recent funding activity was a Series F round of $40 million completed in October 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Series F — $40.0M
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First Round
First Round
(01 Aug 2014)
- Investors Count 8
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2023 | Amount | Series F - Transfix | Valuation | New Enterprise Associates , G Squared | |
| Jun, 2023 | Amount | Series C - Transfix | Valuation |
investors |
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| Jun, 2021 | Amount | Debt – Conventional - Transfix | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Transfix
Transfix has secured backing from 8 investors, including venture fund investors. Prominent investors backing the company include Canvas Ventures, MidCap Financial and Lerer Hippeau. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments are offered to startups by NEA.
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Founded Year | Domain | Location | |
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Growth-stage technology companies are funded via primary and secondary investments.
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Founded Year | Domain | Location | |
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VC firm making early stage investment in tech companies in the US
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Transfix
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Transfix
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Transfix Comparisons
Competitors of Transfix
Transfix operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Echo Global Logistics, uShip, Uber Freight, Convoy and Truckstop.com, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Technology-enabled supply chain and transportation services are provided to enterprises.
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| domain | founded_year | HQ Location |
Global online marketplace for freight and vehicle shipping is facilitated.
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| domain | founded_year | HQ Location |
Trucking carriers are matched with shippers via an online marketplace.
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| domain | founded_year | HQ Location |
Truckers are connected to on-demand freight via a digital platform.
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| domain | founded_year | HQ Location |
Online load board integrated with freight management functionalities
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Transfix
Frequently Asked Questions about Transfix
When was Transfix founded?
Transfix was founded in 2012 and raised its 1st funding round 2 years after it was founded.
Where is Transfix located?
Transfix is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Transfix a funded company?
Transfix is a funded company, having raised a total of $124.56M across 8 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $50M, raised on Aug 01, 2014.
What does Transfix do?
Transfix was founded in 2012 in New York, United States, within the logistics sector. An automated system is utilized to connect independent carriers and owner-operators with shippers for freight services. Shipments are entered into the platform, where drivers are matched based on factors such as empty mileage, availability, and performance history. Operations are managed, including route optimization and navigational support, across the freight booking process.
Who are the top competitors of Transfix?
Transfix's top competitors include uShip, Uber Freight and Convoy.
What products or services does Transfix offer?
Transfix offers Custom Rate Prediction Suite, Spot Rate Predictor, Nationwide Contract Rate Predictor, RFP Workflow, and Custom Autobidder.
Who are Transfix's investors?
Transfix has 8 investors. Key investors include Canvas Ventures, MidCap Financial, Lerer Hippeau, NEA, and G Squared.
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