Convoy

Convoy is an on-demand platform that connects truck drivers with companies that need freight services. Convoy was established in 2015 by Dan Lewis and Grant Goodale. Convoy aims to optimize the matching process between truck drivers and companies that need to move goods based on criteria such as distance, price, and capacity. The company’s headquarters is located in Seattle, Washington.

As a platform, Convoy provides truck drivers (known as carriers) a pool of companies (known as shippers) who need their services to deliver cargo from point-of-origin to destination. Carriers can find shippers through Convoy’s application. Pricing is determined by Convoy, and carriers receive the payment two to three days after delivery.

Convoy description

Convoy has received a total capital of $265.5 million through two funding rounds since 2015. Its most recent funding round was held in September 2018 and raised $185 million. Thirty-five entities have invested in Convoy, and three of them were lead investors. Past investors for Convoy include CapitalG, T. Rowe Price, Lone Pine Capital, Jeff Bezos, and Cascade Investment.