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Transfix raises USD 40 million in Series F funding

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Oct 19, 2023

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Oct 19, 2023

Transfix raises USD 40 million in Series F funding

Funding

Transfix, a provider of freight matching and tracking solutions for fleets, has raised USD 40 million in a Series F round co-led by New Enterprise Associates and G Squared, with participation from Canvas. This brings the company's total funds raised to USD 169.0 million.
The company intends to use the funds to strengthen its financial position, support profitability, and continue product development.
Analyst QuickTake: Transfix first announced that it was looking to raise USD 50 million in Series F funding in July 2023, at a valuation of USD 376 million—a 60% reduction from its previous valuation in March 2020. Transfix also had plans to to go public via a USD 1.1 billion SPAC merger (announced in September 2021), but that was scrapped in October 2022 citing unfavorable market conditions.

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