Susquehanna Growth Equity and Alphabet are the most recent investors. Their latest funding was raised on from a Series D round. He said the company isn’t particularly interested in load matching – the purview of many digital brokerages – but as it scales does want to become more efficient. Flock Freight has raised a total of 399M in funding over 7 rounds. Zaslansky described Flock Freight, founded in 2015, as a technology company and brokerage. “We’re taking on the risk and the mathematical work that it takes to build multi-stop carpools,” Zaslansky said. Carriers who haul shared truckload earn 20 more per load. It offers a guaranteed delivery date, ensuring that companies won’t run up the hefty fees associated with late deliveries.įlock Freight is also redefining the pricing structure associated with the traditional LTL model – expanding partnerships with truckload carrier networks and tapping their excess capacity to ensure trucks are filled. Ticking off a list of benefits, Zaslansky said the service never moves freight from the truck until it reaches its final destination, eliminating the potential for damaged shipments. “Never before has a customer had the opportunity to run a quote and order something, and have it guaranteed to be pooled or hubless,” he said. What distinguishes Flock Freight is its automated product offering that brings an ad hoc system into the 21st century. Shippers and carriers have done just that “since the dawn of time,” Zaslansky acknowledged. Switch to shared truckload to improve on-time delivery, reduce damage by. “It’s time to change.”īundling parcels and other freight shipments to improve efficiencies is not exactly a new idea. Ship faster while reducing your freights carbon footprint. “That mousetrap is a 100-year old innovation,” Zaslansky said, providing more opportunities for delays and damaged delivery. He’s not taking a shot at the LTL providers, he explained, but at the “hub and spoke model,” which typically requires trucks to transport less-than-truckload freight to a processing facility, where it is distributed via another truck. “Our value creation is in repackaging the freight.”Ī serial entrepreneur who founded – and still owns – companies in the truckload and brokerage spaces, Zaslansky said he zeroed in on LTL for his next venture because “it is high price and low quality.” “We’re taking LTL and repackaging it as FTL,” Oren Zaslansky, chief executive officer and founder of Flock Freight, told FreightWaves. It aims to transform the old way of shipping goods. With the latest funding round, the Solana Beach, California startup will continue to build out its core technology – assembling “algorithmically created carpools” of less-than-truckload (LTL) freight shipments so they can be shipped via full truckload, increasing affordability for shippers and revenue potential for carriers. Flock Freight (formerly known as AuptiX) is a company that uses technology to consolidate truck freight. It does not store any personal data. Flock Freight, a “hubless” freight logistics company, today announced a $50 million Series B funding round led by SignalFire and GLP Capital Partners. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly.
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