26 October 2021
Founder and CEO Oren Zaslansky reveals plans for new investment and explains why there’s more to shared truckload than sharing trucks
I didn’t anticipate more fundraising this year, but here we are announcing Flock Freight’s $215 million Series D financing. Our shared truckload solution’s contributions to the freight industry have made us a viable investment.
We’ll use this additional investment to continue revolutionizing the way shipments move. In the coming months, Flock Freight will further invest in our shared truckload technology and grow our teams in Encinitas and Chicago. Ultimately, we’ll create a transformative, hubless supply chain, in which:
- Shippers move goods as soon as they’re ready with reduced cost, faster transit, and lower risk of damage and loss
- Freight moves direct on one truck from origin to destination, regardless of shipment size
- Carriers earn more per mile with maximized trailer utilization
Our shared truckload solution, FlockDirect®, is how we’ll bring this vision to life.
Flock Freight’s patent-pending technology overcomes the complexity of pooling freight and is the key to unlocking hubless transit for cargo of any size. While freight consolidators combine shipments at processing facilities, our technology pools shipments long before the first pickup.
Origin, destination, weight, dimensions, commodity type, scheduling, shipping cost — These are just a handful of shipping constraints our technology accounts for to propose shared truckload pools that will actually work. Throw in the need for a fast turnaround and new shipments to pool (as more orders come in), and you’ve got two factors that increase complexity.
Ultimately, our technology solves this challenging optimization problem quickly and at scale. Even though the idea of pooling shipments isn’t new, the technology we use to guarantee shared truckload service is. Applied to our business, our shared truckload technology provides shippers with better service at a lower cost and carriers with higher margins.
These are the reasons Flock Freight has earned spots on lists like CNBC’s 2021 Disruptor 50 and Fast Company’s World Changing Ideas. We’re not doing this work for recognition, though. We’re driven by the chance to give shippers and carriers another way to succeed.
Here’s to fundamentally changing the way freight moves.
All the best,
Flock Freight Founder and CEO