Keep truckin': Convoy raises $185M in mammoth round led by Google fund

by Quinten Dol
September 21, 2018
convoy raises $185M
photo via convoy

Did you know that 40 percent of trucks on the road right now are towing empty trailers? That means a huge percentage of the fuel, time and greenhouse gas emissions consumed or created by the trucking industry are essentially wasted.

That statistic is what inspired Dan Lewis and Grant Goodale — a pair of ex-Amazonians — to start Convoy, a Seattle company that’s connecting truckers with shippers through its app and, thereby, creating more efficient routes. The company announced today that it raised a $185 million Series C round of funding led by CapitalG, the growth equity fund of Google’s parent company Alphabet.

“Trucks often sit idle due to inefficient scheduling,” Convoy co-founder and CEO Dan Lewis said in a statement. “This is a drag on the economy, the environment and the bottom lines of shippers and carriers alike.”

“Convoy's ability to serve our shippers and carriers with ground-breaking, innovative technology is already having an impact on these critical problems, and our partnership with CapitalG and other leading investors will accelerate this,” he went on. “We are very excited about what lies ahead.”

As part of the funding, CapitalG Partner David Lawee will join Convoy’s board of directors.

“Convoy has the potential to transform the trucking industry,” Lawee said in the statement. “The team has built a leading tech-enabled marketplace that provides shippers with a more efficient freight solution and truck drivers with increased access to work.”

The funding brings Convoy’s funding to more than $265 million, which it has raised in four rounds since it was founded in 2015. The company will use the money to accelerate product innovation and scale its operations to meet the demand of its carriers and shippers.

Along with new investors T. Rowe Price and Lone Pine Capital, Convoy’s star-studded list of existing investors also joined in, featuring a veritable pile-on of the biggest names in West Coast tech.

The company's list of existing investors includes the private investment funds of Bill Gates and Jeff Bezos, local Code.org founders Hadi and Ali Partovi, former Starbucks President Howard Behar, Salesforce’s Marc Benioff, eBay’s Pierre Omidyar, Dropbox’s Drew Houston, Instagram’s Kevin Systrom and more. Bono and The Edge of U2 and former U.S. Senator Bill Bradley also participated, along with a long list of New York and Silicon Valley venture capital funds.

Jobs at Convoy72 open jobs
All Jobs
Finance
Data + Analytics
Design + UX
Dev + Engineer
HR
Legal
Marketing
Operations
Product
Project Mgmt
Sales
HR
new
Convoy
Seattle
HR
new
Convoy
Seattle
Sales
new
Convoy
Seattle
Finance
new
Convoy
Seattle
Finance
new
Convoy
Seattle
HR
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Data + Analytics
new
Convoy
Seattle
Marketing
new
Convoy
Seattle
Marketing
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Marketing
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Product
new
Convoy
Seattle
Developer
new
Convoy
Seattle
Product
new
Convoy
Seattle
Marketing
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Marketing
new
Convoy
Seattle
Product
new
Convoy
Seattle
Sales
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Sales
new
Convoy
Seattle
Data + Analytics
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Marketing
new
Convoy
Seattle
Sales
new
Convoy
Seattle
HR
new
Convoy
Seattle
Marketing
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Developer
new
Convoy
Seattle
Developer
new
Convoy
Seattle
Data + Analytics
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Developer
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Design + UX
new
Convoy
Seattle
Developer
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Data + Analytics
new
Convoy
Seattle
Product
new
Convoy
Seattle
Design + UX
new
Convoy
Seattle
Operations
new
Convoy
Seattle
Design + UX
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Finance
new
Convoy
Seattle
HR
new
Convoy
Seattle
Data + Analytics
new
Convoy
Seattle
HR
new
Convoy
Seattle
Project Mgmt
new
Convoy
Seattle
Sales
new
Convoy
Seattle
Product
new
Convoy
Seattle
Developer
new
Convoy
Seattle
Data + Analytics
new
Convoy
Seattle
Operations
new
Convoy
Seattle

Seattle startup guides

LOCAL GUIDE
Best Companies to Work for in Seattle
LOCAL GUIDE
Best Software Engineer Jobs in Seattle
LOCAL GUIDE
Best Data Science & Analyst Jobs in Seattle
LOCAL GUIDE
Best Sales Jobs in Seattle
LOCAL GUIDE
Best Marketing Jobs in Seattle
LOCAL GUIDE
Best Design Jobs in Seattle
LOCAL GUIDE
Your Guide to the Seattle Startup Community
LOCAL GUIDE
Top Seattle Startup Funding Rounds