Trucks move 80% of all freight in the U.S., but 40% of all truck trips nationwide are made with empty trailers—generating pollution without generating revenue. Founded in 2015, Convoy is helping three million freight carriers keep their trucks full, and maximize their earnings, by connecting them with shippers via their mobile app. Convoy also helps the shippers themselves cut down on expenses by tracking their products’ location in real time and providing a flexible truck supply—no more waiting hours for a carrier to accept or reject a load. Using artificial intelligence to match shippers and carriers efficiently, the Seattle-based logistics company estimates that it has helped its customers lower carbon emissions by almost 3,000,000 pounds. The free app is available to everyone from small businesses to fleets and has attracted attention from environmentalists like Al Gore; Gore’s Generation Investment Management venture firm led Convoy’s $400 million Series D fundraising round. The company has raised a total of roughly $665 million and has a valuation of $2.7 billion.
|No. of employees (approximate)||1,000|
Generation Investment Management, Greylock Partners, T. Rowe Price, Y Combinator, Cascade Investment