The past week has been nothing short of turbulent and shocking for our industry. It has been heartbreaking to see friends, peers, and partners experience such uncertainty, followed by loss and devastation. My thoughts and support go out to anyone and everyone affected by the news.
While the timing is complicated, we recently shared news that I'm extremely proud of - Transfix has closed a $40 million Series F funding round, led by New Enterprise Associates (NEA) and G Squared. This is a massive accomplishment and represents continued confidence in Transfix’s technology, market insights, industry expertise, and differentiation in an otherwise challenging market. I am so proud of our passionate, hard-working, and positive team who show up every single day to tackle the enormous challenges our industry faces.
We have taken a disciplined approach - since day 1 - focusing on investment and innovation in our core brokerage services and software solutions, and establishing strategic, long-term partnerships with both shippers and carriers that drive productivity, efficiency, and transparency. Like most in the sector, we are not immune to market volatility, which means on occasion making difficult choices to right-size and streamline our operations and allocations in order to best secure our future as a business.
Today, as a result, we remain strong financially and operationally and these funds will allow us to continue to invest in our core services and solutions. Now, more than ever before, we are confident, energized, optimistic and most of all, appreciative of the incredible relationships we have built - and continue to grow.