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    Home»Funds»Digital freight network Convoy valued at $3.8bn after latest funding
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    Digital freight network Convoy valued at $3.8bn after latest funding

    April 22, 2022Updated:April 22, 20221 Min Read
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    Convoy has raised $160m in a late-stage funding round led by fund managers Baillie Gifford and T Rowe Price Group Inc, valuing the freight network platform operator at $3.8bn, the company said on Thursday.

    The company also raised $100m from Hercules Capital Inc in a venture-debt investment, bringing the total capital raised to $260m. It also secured a $150m line of credit from J.P. Morgan.

    Convoy, whose mobile app connects shippers and freight brokers to a network of 400,000 trucks in the United States, said it will use the funds raised to further develop its trucking network technology and scale up operations.

    Read more: Reuters

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