transfix

SONAR inks data partnership with Transfix

Chattanooga, Tennessee-based supply chain intelligence platform SONAR announced a data partnership with Transfix, a New York City-based technology and data solutions provider for the logistics industry.

SONAR’s extensive datasets on the truckload market, including rates, volumes and capacity information, will be used as inputs for Transfix’s Data Solutions suite, a machine learning and AI-enabled platform for brokers that allows them to quickly respond to RFPs with confidence, and win freight at...

https://www.freightwaves.com/news/sonar-inks-data-partnership-with-transfix

Transfix, recently out of the brokerage business, offering its first software solution 

Transitions can take a long time for any company, but Jonathan Salama, CEO and co-founder of Transfix, said that moving from being a digital brokerage to a supplier of SaaS solutions is a path made easier by the fact that Transfix was always building and improving the broker-focused technology it was going to need for its own operations. 

“It was a lot faster for us because we already had the right building blocks,” Salama said in an interview with FreightWaves. 

The Transfix transformation has...

https://www.freightwaves.com/news/transfix-recently-out-of-the-brokerage-business-offering-its-first-software-solution

Transfix sells brokerage unit to NFI

Transfix announced Wednesday the sale of its brokerage unit to NFI. Transfix will now focus solely on its transportation software and data offerings.

No financial details were provided, but Transfix said its remaining SaaS business will continue to cater to brokers, shippers and carriers. It also announced that NFI will be the first third-party customer of its proprietary TMS: Transfix Intelligent Freight Platform.

Camden, New Jersey-based NFI generates more $3.5 billion in annual revenue from a...

https://www.freightwaves.com/news/transfix-sells-brokerage-unit-to-nfi

Transfix launches tools to tackle fraud across freight industry

Digital freight marketplace operator Transfix Inc. announced Thursday it has launched Transfix Shield, which aims to help shippers, carriers and brokers root out identity fraud across the commercial transportation industry.

Transfix Shield includes RateCon Shield and Facility Shield, tools available to all freight brokerages and shippers. The tools are designed to help users protect their business, as well as those of their carrier partners, and consumers from the impact of freight fraud,...

https://www.freightwaves.com/news/transfix-launches-tools-to-tackle-fraud-across-freight-industry

Transfix partners with Rocket Shipping for LTL offering

Digital freight marketplace Transfix announced Thursday that it has partnered with transportation provider Rocket Shipping to provide customers with a new less-than-truckload booking feature.

“Our partnership with Rocket Shipping leverages their deep expertise in LTL and final-mile services, integrating this knowledge directly into Transfix’s Shipper App and combining it with our decade of experience in full truckload,” Jonathan Salama, co-founder and CEO of Transfix, told FreightWaves. “This...

https://www.freightwaves.com/news/transfix-partners-with-rocket-shipping-for-ltl-offering

Freight marketplace Transfix secures $40M funding round

Despite a weak freight market, Transfix announced the closing of a $40 million Series F funding round led by New Enterprise Associates (NEA) and G Squared, with participation from Canvas.

The latest funding strengthens Transfix’s financial position, supports a path to profitability and represents confidence from investors in the company’s approach, Transfix officials said.

New York-based Transfix is a digital freight marketplace connecting shippers and more than 30,000 carriers. The company was...

https://www.freightwaves.com/news/freight-marketplace-transfix-secures-40m-funding-round

Transfix looks to raise Series F with 60% devaluation, source suggests

The weak freight market has taken its toll on FreightTech valuations.

FreightWaves late Monday obtained a release showing digital freight marketplace Transfix is looking to raise a $50 million Series F at a $376 million valuation, a 60% reduction from the $940 million the New York City-based company was valued at in its last funding round in March 2020. A source attributed the valuation drop to “largely market forces.”

Transfix reportedly has secured $30 million in financing from New Enterprise...

https://www.freightwaves.com/news/transfix-looks-to-raise-series-f-with-60-devaluation-source-suggests

Transfix anuncia la dimisión de Shen y nombra nuevo Director General 

El broker de carga digital Transfix anunció el jueves que el cofundador y Director de Tecnología Jonathan Salama ha sido nombrado CEO con efecto inmediato. 

Salama sustituye a la CEO y Presidente Lily Shen, que se retira después de cinco años en la empresa. Shen actuará como asesora durante la transición.

“La combinación única de experiencia en tecnología y operaciones de Jonathan le convierte en un líder ideal y en el sucesor natural y estratégico para el puesto de Consejero Delegado. Esperamos...

https://www.freightwaves.com/news/transfix-anuncia-la-dimision-de-shen-y-nombra-nuevo-director-general

Transfix announces Shen stepping down, appoints new CEO

Digital freight broker Transfix announced Thursday that co-founder and Chief Technology Officer Jonathan Salama has been appointed CEO effective immediately.

Salama replaces CEO and President Lily Shen, who is stepping down after five years with the company. Shen will serve as an adviser during the transition.

“Jonathan’s unique combination of technology and operations expertise makes him an ideal leader and the natural and strategic successor for the CEO role. We look forward to a continued...

Transfix pulls IPO, new private funding round planned

A yellow tractor pulling a white trailer on the highway

Digital freight broker Transfix has announced it will remain a private company. It has terminated a business combination agreement with G Squared Ascend I, ending a planned initial public offering.

In June, the public listing was pushed back to November due to deteriorating public market conditions.

A public listing through a special purpose acquisition company combination was expected to fetch an enterprise value of as much as $1.1 billion. As broader stock markets have rolled over, interest in...

https://www.freightwaves.com/news/transfix-pulls-ipo-new-private-funding-round-planned

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